Homework You operate in a competitive market and produce wheat in this market. You are part of a very large number of wheat farmers, and you own ten dunams of land that are devoted to cultivating them annually, and every dunum of land you cultivate brings you an annual profit of $ 1,000. After a period of time, and as a result of intense competition, wheat prices began to decline, and your profits began to decline with it. 1- How will you (as a competitive enterprise within this competitive market) face this decline in prices, and how will you try to increase and maximize your profits? 2- List (in a table) your fixed economic costs and your variable costs in this project 3- Have you noticed the existence of opportunity costs? Explain it, if any. Is it classified under fixed or variable costs? Why? 4- Is the cost of producing a ton of wheat on your farm equal to the cost of producing a ton on your neighbor's farm, which has an area of half a dunam? Explain your answer in detail using the concepts of increasing returns to scale and economies of scale. 5-What is the shape of the demand curve for your wheat products? Why? 6-Suppose you buy all the wheat farms in the country and become the sole owner of all the wheat farms. What will the demand curve look like for your wheat products? Is the shape different from the fifth branch? Explain your answer Homework You operate in a competitive market and produce wheat in this market. You are part of a very large number of wheat farmers, and you own ten dunams of land that are devoted to cultivating them annually, and every dunum of land you cultivate brings you an annual profit of $ 1,000. After a period of time, and as a result of intense competition, wheat prices began to decline, and your profits began to decline with it. 1- How will you (as a competitive enterprise within this competitive market) face this decline in prices, and how will you try to increase and maximize your profits? 2- List (in a table) your fixed economic costs and your variable costs in this project 3- Have you noticed the existence of opportunity costs? Explain it, if any. Is it classified under fixed or variable costs? Why? 4- Is the cost of producing a ton of wheat on your farm equal to the cost of producing a ton on your neighbor's farm, which has an area of half a dunam? Explain your answer in detail using the concepts of increasing returns to scale and economies of scale. 5-What is the shape of the demand curve for your wheat products? Why? 6-Suppose you buy all the wheat farms in the country and become the sole owner of all the wheat farms. What will the demand curve look like for your wheat products? Is the shape different from the fifth branch? Explain your