The Rutabaga Market Is Perfectly Competitive and the Price of a Ton

question 151

Multiple Choice

The rutabaga market is perfectly competitive and the price of a ton of rutabagas rises.As a result,Rudy,a rutabaga farmer,will

• A) decrease his output of rutabagas.
• B) not change his output of rutabagas because Rudy's firm is a price taker.
• C) increase his output of rutabagas.
• D) at first decrease and then increase his output of rutabagas.
• E) probably change his output of rutabagas, but more information is needed about the change in the marginal revenue of a ton of rutabagas.

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Mean

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