Multiple Choice
Danny Sever owns an avocado grove and sells his avocados to wholesalers. Danny has absolutely no ability to select the price. We know then that he
A) will go out of business because price will end up being lower than his costs
B) is a price-maker
C) is in a monopolistically competitive industry
D) cannot maximize profit
E) has a horizontal individual demand curve
Correct Answer:
Verified
Correct Answer:
Verified
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