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1b) >[5 points] Wheat is a perfectly competitive industry. Farmers producing wheat in India have low incomes. A new, better quality fertilizer has been invented.

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1b) >[5 points] Wheat is a perfectly competitive industry. Farmers producing wheat in India have low incomes. A new, better quality fertilizer has been invented. It will allow farmers to roduce more wheat with the same inputs. An NGO claims that if Indian farmers use this fertilizer, their incomes will increase in t e long-run. . . . M True7 False or Uncertain? Explain your reasoning. W

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