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.
