The Gini Index Ranges Between

question 20

Multiple Choice

The Gini index ranges between:

• A) 0 to -1.
• B) 0 percent to 100 percent.
• C) -1 to +1.
• D) 1 percent to 50 percent.

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Definitions:

Total Revenue

The overall amount of money earned by a firm from the sale of its goods and services, before any costs are deducted.

Total Cost

The overall costs spent in the generation of goods or services, encapsulating both non-variable and variable expenses.

Monopolistically Competitive

A market structure in which many companies sell products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Profit-Maximizing Price

The price level at which a company can sell its product or service to achieve the highest possible profit, taking into account the cost of production and market demand.