Scenario 18-1 Madison Kelp Owns Three Boats, Which Participate in Commercial Fishing

Multiple Choice

Scenario 18-1
Madison Kelp owns three boats, which participate in commercial fishing for fresh Pacific salmon off the coast of British Columbia.As part of her business, she hires a captain and several crewmembers for each boat.In the market for fresh Pacific salmon, there are thousands of firms like Madison's.While Madison usually catches a significant number of fish each year, her contribution to the entire harvest of salmon is negligible relative to the size of the market.
-Refer to Scenario 18-1.Based on the given information,what is likely the role that Madison's firm plays over wages to crewmembers on the labour market and the price of salmon on the salmon market

A) Madison's firm is a price taker on the salmon market but a wager setter on the labour market.
B) Madison's firm is a price setter on the salmon market but a wager taker on the labour market.
C) Madison's firm is a price setter on the salmon market and a wager setter on the labour market.
D) Madison's firm is a price taker on the salmon market and a wager taker on the labour market.