Since 1970, the world Gini ratio has ________ indicating that the world distribution of income has ________.
A) risen; become more equal
B) fallen; become more equal
C) risen; become less equal
D) not changed; not changed
Question 2
In the above figure, for a single-price monopolist producing at its profit-maximizing equilibrium price and quantity, the price elasticity of demand at this equilibrium will be
A) greater than 1 and the monopolist's total revenue is maximized.
B) less than 1 and the monopolist's economic profit could be larger.
C) equal to 1 and the monopolist's total revenue is maximized.
D) greater than 1 and the economic profit is maximized but the total revenue is not.
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