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

Hurricane Katrina damaged a large portion of oil refining and pipeline capacity in the Gulf coast states. In the market for gasoline

A) the demand curve shifted to the left resulting in a decrease in the equilibrium price. B) the supply curve shifted to the left resulting in an increase in the equilibrium price. C) the demand curve shifted to the right resulting in an increase in the equilibrium price. D) the supply curve shifted to the right resulting in an increase in the equilibrium price.

The primary source of scale diseconomies appears to be

a. a firm's inability to acquire quality resources b. too little demand for the firm's product c. consumers who resist dealing with large firms d. division of labor e. the organizational difficulties of managing an ever larger enterprise