If the wheat industry is perfectly competitive with a market price of $4 per bushel and Farmer Brown charged $5 per bushel, how many bushels would Farmer Brown sell?
A) some, but fewer than he would at a price of $4
B) more than he would at a price of $4
C) just as many as he would at a price of $4
D) none
E) More information is needed about the prices charged by the other wheat farmers.
D
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Between August 2007 and July 2008, Brazil exported more than 3.5 billion pounds of coffee to the rest of the world. This fact means that
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