The Figure Given Below Represents an Imperfectly Competitive Resource Market

question 65

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 Gini co-efficient is the:

• A)area between the Lorenz curve and the vertical axis divided by the area under the Lorenz curve.
• B)area between the Lorenz curve and the horizontal axis divided by the area above the Lorenz curve.
• C)area between the Lorenz curve and the line of perfect equality divided by the total area under the line of income equality.
• D)area between the Lorenz curve and the line of perfect equality divided by the total area above the line of perfect equality.
• E)area between the line of perfect equality and the horizontal axis divided by the area between the Lorenz curve and the horizontal axis.

---

Definitions:

AICPA

American Institute of Certified Public Accountants, a national professional organization for certified public accountants in the United States.

Ethics

Principles that govern a person's behavior or the conducting of an activity, often acting as a guideline for moral conduct.