A Farmer Produces the Same Output in 2004 as in 2003.His

Multiple Choice

A farmer produces the same output in 2004 as in 2003.His input prices increase by 50 percent,but so does his product price.We can conclude that

A) the farmer is better off in 2004.
B) the farmer was better off in 2004.
C) the farmer is equally well off in 2004 as in 2003.
D) we cannot tell whether the farmer is better off in 2004 or in 2003 without additional information.