It is often found that there is a sufficient mobility within the income distribution such that a person in the lowest quintile of income can move to the higher ones and vice versa.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Which among the following does not determine the shape of the demand curve for a good under different market structures?
a. Number of substitutes in the market
b. Importance of the good in a consumer's budget
c. Cost structure of the firm
d. Price-elasticity of demand
e. The length of time being considered
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