If the market demand curve in a perfectly competitive industry ...

[tiffannnnyyyyyy]

If the market demand curve in a perfectly competitive industry shifts left, the demand curve for each existing firm will:
 a. shift up.
 b. shift down.
  c. shift right.
 d. shift left.

Question 2

The farther the Lorenz curve from the line of perfect equality, the lower is the income inequality.
 a. True
  b. False
  Indicate whether the statement is true or false

[dmurph1496]

Answer to Question 1

b

Answer to Question 2

False