corporation is the most common type of business organization in the United States. (© a) True ( b) False

In a(n). as either a fixed dollar or a percentage-of-earnings amount linked to years of seniority in the company. plan, an employer agrees to provide a specific level of retirement income to qualified retirees. It is often expresses defined contribution defined benefit O IRA D 401(k)

Distance to city edge (miles) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Housing Developer's Bid Rent ($/acre) $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 $0 $0 $0 $0 Farmer's Bid Rent Curve ($/acre) $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 The maximum amount that housing developers and farmers are willing to pay for land is depicted in the table above: 1. How far from the CBD will developers be willing to build houses? 2. If the market price of a harvest increases by $100,00 but farmer costs remain the same, what will happen to the edge of the city over the long run?

p (a) MC ATC MR P* (b) MC ATC MR (c) MC ATC MR