William is a wheat farmer and wheat sells in a perfectly ...

[tfester]

William is a wheat farmer and wheat sells in a perfectly competitive market, with an equilibrium price of 5 per bushel. Its marginal revenue:
 a. is greater than 5.
 b. is 5.
 c. is less than 5.
 d. cannot be determined from the above information.

Question 2

Rising income inequality is driven by:
 a. an increase in employment in the manufacturing sector of an economy.
  b. a progressive tax structure.
 c. a rising demand for unskilled, cheap labor.
 d. a technological advancement.
 e. a fall in capital's share of national income.

[tandmlomax84]

Answer to Question 1

b

Answer to Question 2

d