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The Figure Given Below Represents an Imperfectly Competitive Resource Market

Question 11

Multiple Choice

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 everyone had the same income, then the Lorenz curve would: A) be the line of income equality. B) bow down below the line of income equality. C) be a parallel line lying below the line of income equality. D) bow up above the line of income equality. E) be a curve that intersects the line of income equality at its mid-point.
-If everyone had the same income, then the Lorenz curve would:


A) be the line of income equality.
B) bow down below the line of income equality.
C) be a parallel line lying below the line of income equality.
D) bow up above the line of income equality.
E) be a curve that intersects the line of income equality at its mid-point.

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