ECO 2023 (Online) Answer the following multiple choice questions. Cumulative percentage of income 0 o 0 23:) 4'0 ob 3'0 100 Cumulative percentage of households Figure 1 7. In Figure 1, point shows an equal distribution of income, while point shows an unequal distribution of income. a. a. b b. b. c c. b, a d. a, d 8. The wage differential between high-skilled and low-skilled labor a decreases if the cost of acquiring the skill increases. b. decreases if the marginal revenue product of the skill increases. c increases if the cost of acquiring the skill increases. d increases if the marginal revenue product of the skill decreases