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Consrder that the market for wheat Is perfectly competitive and the current market price Is $4 per bushel. Wayne, a farmer and seller In the
Consrder that the market for wheat Is perfectly competitive and the current market price Is $4 per bushel. Wayne, a farmer and seller In the market for wheat charges $5 per bushel. How manu bushels of wheat would Wayne sell? -: :3 Wayne would sell more bushels of wheat than he would at a price of $4. -' j Wayne would not sell any bushels of wheat, -: :3 More innformation is needed about the prices charged by the other wheat farmers. -: :3 Wayne would sell just as many bushels of wheat as he would at a price of $4. if: Wayne would sell some bushels. but fewer than he would sell at a price of $4
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