New England possessed a comparative advantage in producing cotton. Producers in this region produced cotton at the lowest possible opportunity cost in colonial America

In the above table, if the quantity sold by the firm rises from 5 to 6, its marginal revenue is

A) $15. B) $30. C) $75. D) $90.

Refer to Table 4-4. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor supplied?

A) 390,000 B) 380,000 C) 370,000 D) 340,000