Melanie grows long-stem roses in her garden and sells them at the local flower market at the perfectly competitive market price of $3. If Melanie decides to increase the number of roses she grows, what will happen to the market price and Melanie's marginal revenue?
A) The market price will decrease and Melanie's marginal revenue per rose also decreases.
B) The market price will decrease and Melanie's marginal revenue per rose is unchanged.
C) The market price is unchanged and Melanie's marginal revenue per rose decreases.
D) The market price is unchanged and Melanie's marginal revenue per rose is also unchanged.
Correct Answer:
Verified
Q310: In which market structure is it possible
Q311: If Glass Inc. produces 80 windowpanes per
Q312: If the market equilibrium price of pineapples
Q313: Suzana owns a farm that grows mangos
Q314: The market price of pomegranates is $2,
Q316: According to this graph of a perfectly
Q317: According to this graph of a perfectly
Q318: In the following diagram of a firm
Q319: In the following diagram of a firm
Q320: If the market price is $60, a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents