The expression "the farmer is a price taker,not a price maker," refers to the fact that
A) the market demand curve for food is perfectly elastic.
B) demand for agricultural products has declined steadily throughout the twentieth century.
C) prices of farm goods are generally set by government.
D) in perfect competition, no one producer can control prices.
E) shifts in the demand and supply for farm products have little impact on farm prices.
Correct Answer:
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