The distribution of income in the United States is characterized by the following relationship between the mean, median, and mode incomes
A) mean income < median income < mode income.
B) mode income < median income < mean income.
C) median income < mean income < mode income.
D) mode income < mean income < median income.
Question 2
The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. When the marginal social benefit of the last dozen doughnuts is equal to the marginal social cost
A) the efficient quantity is being produced and consumed.
B) 200 dozen doughnuts are produced and consumed each day.
C) an increase in production and consumption would increase efficiency.
D) Both answers A and B are correct.
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