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The Figure Given Below Represents an Imperfectly Competitive Resource Market

Question 4

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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 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    -If the Gini co-efficient for an economy is 0.85, which of the following statements is true? A) The national income of this economy is more or less equally distributed. B) The Lorenz curve for the economy will bow above the line of perfect equality. C) The Lorenz curve for the economy will coincide with the line of perfect equality. D) The Lorenz curve for the economy will bow down below the line of perfect equality. E) The Lorenz curve for the economy will be a rectangle.
-If the Gini co-efficient for an economy is 0.85, which of the following statements is true?


A) The national income of this economy is more or less equally distributed.
B) The Lorenz curve for the economy will bow above the line of perfect equality.
C) The Lorenz curve for the economy will coincide with the line of perfect equality.
D) The Lorenz curve for the economy will bow down below the line of perfect equality.
E) The Lorenz curve for the economy will be a rectangle.

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