Brady, a Farmer, Sells Wheat in a Market Where Sellers

Brady, a farmer, sells wheat in a market where sellers are price takers. Which of the following is true of Brady's production and pricing decisions?

A) Brady will be able to increase the total revenue from the sale of his wheat if he increases the price of the wheat.
B) Since the market dictates the price of his product, Brady will have no incentive to minimize per-unit production costs.
C) Since the market dictates the price of his product, Brady has no production decisions to make.
D) It would be senseless for Brady to try to increase sales by lowering the price of his product. His entire output can be sold at the market price.
E) Brady can increase his profits by selling his output at a price above the equilibrium price in the market.