Answer: D. contributes to income inequality.
The distribution of wealth in the United States is such that it:
A. is randomly distributed among income classes.
B. has no perceptible impact on the distribution of income.
C. reduces income inequality.
D. contributes to income inequality.
Economics
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Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below. Mega Corp: TC = 5,000 + 100Q Big Inc: TC = 4,000 + 200Q For both firms, average total cost:
A. declines as quantity increases. B. declines as quantity increases for Mega Corp and increases as quantity increases for Big Inc. C. increases as quantity increases. D. is constant for all quantities.
Economics
Use the figure below to answer the following question.
If a price ceiling in this market is set at P1, producer surplus is represented as which area on the graph?
A. b. B. c. C. c + b + d. D. b + c.
Economics
Rate of return regulation is designed to allow a natural monopoly to
A) make an economic profit. B) make zero economic profit. C) underestimate its average cost. D) compete with any firm entering the market. E) make zero normal profit.
Economics
For a person to have a comparative advantage in producing a product, she must be able to produce that product at a lower opportunity cost than her competitors
Indicate whether the statement is true or false
Economics