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Home Q & A Board Other Fields Homework Help Business Economics
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apadong apadong
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7 years ago
Assume soybeans are produced in a perfectly competitive market. A soybean farmer is currently maximizing his profits. If the market price of soybeans falls, after the farmer adjusts to the new price, he will be producing ________ bushels of soybeans and his profit will be ________.
A) more; the same
B) fewer; the same
C) the same number of; the same
D) fewer; lower
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DeToXiFYDeToXiFY
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7 years ago
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apadong Author
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#2
7 years ago
Thx
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