Ceteris paribus,for a farmer,corn and wheat are
A)Substitutes in production.
B)Complements in production;by-products.
C)Unrelated in a farmer's decision.
D)None of the choices are correct.

Question

Quizplus · Accepted Answer

Substitutes in production mean that a farmer can choose to produce either corn or wheat based on their profitability, market conditions, or personal preference. If the conditions favor the production of corn over wheat, the farmer might allocate more resources to growing corn, and vice versa, making them substitutes in the context of production decisions.

Ceteris Paribus,for a Farmer,corn and Wheat Are