If an Individual Farmer in a Perfectly Competitive Agricultural Market

question 34

Multiple Choice

If an individual farmer in a perfectly competitive agricultural market raises her price above the market price,the farmer will

• A)Not sell any product.
• B)Earn greater total revenue.
• C)See other farmers follow the price rise.
• D)Earn greater total profit.

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Definitions:

Memo

A written document used in an organization to communicate internal messages or information.

Central Selling Point

A unique feature or benefit of a product or service that is emphasized to attract and convince potential customers.

Immediate, Personal Service

Prompt and individualized assistance tailored to meet specific needs of customers.

Welcoming Claims

Statements or assertions made with the intention of creating a friendly or hospitable environment.