If Income Is Distributed Equally in a Society, the Poorest

question 165

Multiple Choice

If income is distributed equally in a society, the poorest fifth of the population receives

• A)5 percent of the total income.
• B)one-fifth as much as the richest fifth of the population.
• C)20 percent of society's total income.
• D)50 percent of society's total income.

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Definitions:

Secondary Level Price Discrimination

A pricing strategy where prices are varied based on some attribute of the purchaser or the purchase context, not directly on production costs or primary market segments.

Competitive Injury

Harm or damage inflicted on a business's competitive position, often through unfair practices by competitors.

Section 7 of the Clayton Act

A provision in U.S. antitrust law that prohibits mergers and acquisitions where the effect may be substantially to lessen competition, or tend to create a monopoly.

Competition

The rivalry among businesses to attract customers and achieve higher sales, profits, and market share.