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Loraine Loraine
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9 years ago
Elsie is a perfectly competitive dairy farmer. The market price of milk was $2.40 but just fell to $2.20 a gallon. Elsie
A) can sell as much milk as she wants at $2.20 a gallon.
B) will have to charge some customers $2.40 a gallon to stay in business.
C) will produce the same amount of milk at both prices.
D) can sell more at the lower price because the quantity demanded is higher at lower prices.
E) will be able to charge her initial customers $2.40 a gallon.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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9 years ago
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9 years ago
Don't mention it Happy Dummy
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