1) What is the equilibrium price and output that would prevail in the perfect competitive market 2) What is the profit maximizing monopoly
3)what is the perfect competitive industry
4)Should the government use a tax unit or per unit subsidy to produce the allocatively efficient level of output? Explain.

Question 4 which was a foundation of the industrial revolution? a) large states held huge supplies of raw materials. b) coal replaced wood as the primary source of fuel. c) road infrastructure replaced waterways for transport. d) mercantilist policies drove down the price of goods. question 7 which was not a government response to the socialist challenges? a) establishing universal suffrage to all classes b) introducing medical insurance and pensions c) prohibiting underground employment for women d) restricting child labor for children under ten years old question 9 which was a cause of the boer war? a) movement and settlement of bantu peoples into afrikaner-populated states b) independence of northern afrikaner territories from british colonial authority c) evacuation of most afrikaner people out of south africa and back into europe d) british reconstitution of afrikaner-held territories into the union of south africa