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.
A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive,
Norway lobsters on sale at a Spanish market
This engraving by William Russell Birch shows Congress Hall (left), which was occupied by Congress f
Dr. William H. Walling
Effects of competitive inhibition on enzyme kinetics