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Tidy Tidy
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A perfectly competitive wheat farmer in a constant-cost industry produces 1,000 bushels of wheat at a total cost of $50,000. The prevailing market price is $48. What will happen to the market price of wheat in the long run?
A) The price remains constant at $48.
B) The price falls below $48.
C) The price rises above $48.
D)  There is insufficient information to answer the question.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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SmooothSmoooth
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9 years ago
Don't mention it Happy Dummy
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