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Author Question: William is a wheat farmer and wheat sells in a perfectly competitive market, with an equilibrium ... (Read 166 times)

tfester

  • Hero Member
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  • Posts: 534
on: Jun 30, 2018
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

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  • Posts: 323
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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