The Figure Given Below Represents an Imperfectly Competitive Resource Market

question 74

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 horizontal and vertical axes of the Lorenz curve respectively measure:

• A)total income and total expenditure as cumulative percentages.
• B)total income and total population as cumulative percentages.
• C)total population and total expenditure as cumulative percentages.
• D)total expenditure and total income as cumulative percentages.
• E)total population and total income as cumulative percentages.

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