The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1

-The diagram that represents how income is distributed among members of a population is known as a(n):

Question

The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1
 
-The diagram that represents how income is distributed among members of a population is known as a(n):

Quizplus · Accepted Answer

The diagram representing how income is distributed among members of a population is known as the Lorenz curve. The figure given in the question does not represent any of the other curves mentioned in the options.

The Figure Given Below Represents an Imperfectly Competitive Resource Market