What is the percentage of income received by the lower two quintiles on line X?
40
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If diplomas work efficiently in signaling productive capabilities to employers, the resulting equilibrium
A) will be a separating equilibrium. B) will be a pooling equilibrium. C) will always be inefficient. D) will never be efficient.
One way to allocate 1,000 (stadium capacity) football tickets priced at $20 to 2,000 would-be buyers is to
a. put the tickets on sale for half price b. increase market efficiency c. make the tickets available to more people at the low price d. use a price ceiling to ensure that the market will remain in equilibrium e. implement a ration coupon system
If a person is risk averse, then as wealth increases, total utility of wealth
a. increases at an increasing rate. b. increases at a decreasing rate. c. decreases at an increasing rate. d. decreases at a decreasing rate.
If a monopolistically competitive firm is producing 50 units of output where marginal cost equals marginal revenue, total cost is $1,674 and total revenue is $2,000, its average profit is
A) $326. B) $40. C) $6.52. D) impossible to determine without additional information.