In order to continue earning an economic profit,individual farmers must

Question

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In order to continue earning an economic profit, individual farmers must continue to improve their productivity. This means finding more efficient ways to produce their goods, reducing costs, and potentially increasing output. By continually improving productivity, farmers can keep costs lower than their competitors and maintain profits even if they charge the same price. Expanding output until marginal cost equals zero may not be feasible or efficient, and charging higher or lower prices than competitors may not be sustainable in the long run. Thus, improving productivity is the best choice for farmers to continue earning economic profit.

In Order to Continue Earning an Economic Profit,individual Farmers Must