The Table Gives the Distribution of Income in Miseria

question 112

Multiple Choice

The table gives the distribution of income in Miseria.
-What percent of income is earned by the richest 80 percent of the population?

• A) 25 percent
• B) 95 percent
• C) 100 percent
• D) 5 percent
• E) More information is needed to answer the question.

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Definitions:

Total Utility

Total utility is the total satisfaction or benefit a consumer receives from consuming a given total quantity of a good or service.

Indifference Map

A graph representing a set of indifference curves to illustrate consumer preferences for different combinations of goods, assuming equal satisfaction.

Total Utility

The total satisfaction received from consuming a particular quantity of goods or services.

Money Income

The complete sum of money earned by an individual or a household that includes earnings from work, salaries, and additional income sources.