How much is the percentage of income earned by the highest quintile on Lorenz curve Q?
55
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The figure above shows the demand for fruit snacks. Which movement reflects an increase in the price of a substitute for fruit snacks?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
When a monopolist is able to price-discriminate: a. its profits tend to increase and its consumer surplus tends to fall. b. both its profits and consumer surplus tend to increase
c. both its profits and consumer surplus tend to decrease. d. its profits tend to fall and its consumer surplus tends to increase.
The rational-ignorance effect refers to which of the following scenarios?
What will be an ideal response?
Which one of the following statements is true?
a. Water use is clearly higher in countries with higher income levels b. Water use is clearly higher in countries with lower income levels c. Water use in a country is closely linked to the level of manufacturing d. Water use in a country is closely linked to the level of agriculture e. Water use in a country is clearly linked to electricity use