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Author Question: If a perfectly competitive wheat farmer is maximizing its profit and then increases its output, the farmer's (Read 113 times)

folubunmi

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on: May 24, 2019
If a perfectly competitive wheat farmer is maximizing its profit and then increases its output, the farmer's
◦ total revenue increases, but total cost rises by more so that the farmer's total profit decreases.
◦ total revenue decreases and total cost increases, both thereby decreasing the farmer's total profit.
◦ total revenue does not change but total cost increases, thereby decreasing the farmer's total profit.
◦ marginal revenue increases, but so does marginal cost, so that the farmer's total profit increases.
◦ total revenue and total cost both rise, but the effect on the farmer's total profit is uncertain.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by folubunmi on May 24, 2019

tsternbergh47

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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folubunmi

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Reply 2 on: May 24, 2019
Great answer, keep it coming :)

Liddy

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Reply 3 on: Yesterday
Excellent

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