A Midwestern Wheat Farmer Faces a Horizontal Demand Curve Because

question 176

Multiple Choice

A Midwestern wheat farmer faces a horizontal demand curve because

• A)it is so large relative to the market as a whole that it has no impact on market price
• B)it is so small relative to the market as a whole that it has no impact on market price
• C)it produces a good for which there are no substitutes
• D)it produces a good for which there are no complements
• E)it produces a good that no other firm in the industry produces

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Definitions:

Contaminant

A substance that makes something impure or unsuitable by the introduction of unwholesome or harmful elements.

Sea Mammals

Marine animals that are part of the mammalian class, including species such as whales, dolphins, and seals, which are adapted to life in the ocean.

PCBs (Polychlorinated Biphenyls)

A group of man-made organic chemicals consisting of carbon, hydrogen, and chlorine atoms, used in various industrial applications, now banned in many countries due to their environmental persistence and health hazards.

Indigenous Population

Ethnic groups who are the original inhabitants of a region, prior to colonization or the establishment of national boundaries.