The Wheeler Wheatfarm sells Wheat to a grain broker inSeatlle, Washington. Since

Question

The Wheeler Wheatfarm sells Wheat to a grain broker inSeatlle, Washington. Since the market for wheat is generallyconsidered to be competitive, the Wheeler farm does not a. choose the quantity of wheat to produce. b.choose the price at which it sells its wheat. c.have any fixed costs of production d.set marginal revenue equeal to marginal cost to maximizeprofit. The Wheeler Wheatfarm sells Wheat to a grain broker inSeatlle, Washington. Since the market for wheat is generallyconsidered to be competitive, the Wheeler farm does not a. choose the quantity of wheat to produce. b.choose the price at which it sells its wheat. c.have any fixed costs of production d.set marginal revenue equeal to marginal cost to maximizeprofit.

Explanation / Answer

B.choose the price at which it sells its wheat. Explanation Wheeler wheat farm is a price taker in the competitive market.

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