In a perfectly competitive farm market with economic losses,farmers will
A) Buy more farmland and expand until profits are normal.
B) Exit until accounting profits are zero.
C) Exit until profits are normal.
Correct Answer:
Verified
Q13: The typically price-inelastic demand for agricultural products
Q14: If an agricultural market is perfectly competitive,then
A)A
Q15: In the United States,in general,farmers behave like
A)Monopolists.
B)Oligopolists.
C)Perfect
Q16: The exit of farms from a market
Q17: If an individual farmer in a perfectly
Q19: Ceteris paribus,if the corn crop is 15
Q20: In order to continue earning an economic
Q21: Farm price support programs most often take
Q22: Which of the following would result from
Q23: The biggest plunge in farm prices occurred
A)During
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