Question:

Can anyone help with an Economics Question?

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Question: The Wheeler Wheat Farm sells wheat to a grain broker in Seattle, Washington. Since the market for wheat is perfectly competitive, the Wheeler Farm....

a) doesn't choose the quantity of wheat to produce.

b) doesn't have any fixed costs of production.

c) isn't able to earn an accounting profit.

d) doesn't choose the prices at which it sells its wheat.

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2 ANSWERS


  1. Get a new teacher. This question is terribly phrased.


  2. d) doesn't choose the prices at which it sells its wheat.

    Under perfect competition supplier can't choose price - it is already predefined by market.

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