Lesson 2: The Distribution of Wealth Stuff to read: The Margin of Production — The Unbounded Savannah — Video Supplement: Mannahatta Please enable JavaScript in your browser to complete this form.Your NameYour Email *1. What is the margin of production? (7 pts.) 2. In economics, marginal analysis (6 pts.) determines the average wage paid to workers in a particular nation.can only be applied to individual markets, not to the whole economy.looks at the overall effect of adding one more unit of something.sets the legal minimum wage. 3. Is the margin of production always the same? If not, what are some factors that can change it? (7 pts.)4. Name at least three examples of workers whose wages are well above what the average worker can earn. (6 pts.)5. What is the general level of wages? How might it be different from the average wage level? (7 pts.)6. Comment on this illustration. Explain how the situation shown in this poster represents a decrease in the general level of wages. (7 pts.)7. What are some examples of the benefits to be gained through the combination of workers? (7 pts.)8. What are some examples of the benefits to be gained through the separation of workers? (7 pts.)9. An unusually productive worker would do well to (6 pts.) take free land at the frontier.work on creating a patentable invention.join a union.go to the best place available, even if the rent is very high there.10. If usable free land is no longer available, workers who are less productive than the average worker (6 pts.)will take low-paid service sector jobs.will have to accept lower wages.are likely to be unemployed.will not be adversely affected.11. What is the primary cause of increased land values in cities? (7 pts.)12. What are the two over-arching processes that enable vast increases in overall production? (7 pts.)13. Under current conditions, why is there a persistent surplus of workers seeking jobs? (7 pts.)14. If a tax is imposed on workers, why does that tend to lower rent? (6 pts.)Submit Lesson 2
