Farmers cannot individually affect market price because
A)There is an infinite demand for their goods.
B)Demand is perfectly inelastic for the farmer's produce.
C)Their individual production is insignificant relative to the production of the market.

Question

Quizplus · Accepted Answer

Farmers cannot individually affect market price because their production is insignificant relative to the production of the entire market. This means that changes in their supply will not significantly impact the overall market price. Demand for their goods can also vary, making it difficult for farmers to have complete control over the price.

Farmers Cannot Individually Affect Market Price Because