Strawberries Are Produced in a Perfectly Competitive Market

question 93

Multiple Choice

Strawberries are produced in a perfectly competitive market. Average consumer incomes decrease. This will cause the individual strawberry farmer's marginal revenue to ________ and their profit-maximizing level of output to ________.

• A) increase; increase
• B) increase; decrease
• C) decrease; increase
• D) decrease; decrease

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Definitions:

Important Feature

A critical or essential aspect, characteristic, or attribute that significantly influences or determines nature or outcome.

Persistent Effort

Consistent and continuous application of determination and hard work towards achieving a specific goal or overcoming a challenge.

Performance

The act or process of executing or performing an action, task, or function.

Goal

The object or aim of an action.