Q33. Answer all the following questions. a. Explain whether you agree or disagree with the following remark: According to the model of perfectly competitive markets, the demand for wheat should be a horizontal line. But this can't be true: When the price of wheat rises, the quantity of wheat demanded falls, and when the price of wheat falls, the quantity of wheat demanded rises. Therefore, the demand for wheat is not a horizontal line. (2pts) b. Sally runs a Mcdonald's franchise. She is selling 20 Big Macs per day at a price of $3.25. If she lowers the price to $3.20, she will sell 21 Big Macs. What is the marginal revenue of the 21st Big Mac? If selling the extra Big Mac adds $1.0 to Sally's costs, what will be the effect on her profit from selling 21 instead of 20? Show all your work. (3pts) Edit View Insert Format Tools Table 12pt ~ Paragraph|B J U A & TV MacBook Pro