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(Figure: Costs and Profits for Tomato Producers) Use Figure: Costs and Profits for Tomato Producers.The market for tomatoes is perfectly competitive.The market price of a bushel of tomatoes is $18.If the market price falls to $16,the farmer's marginal revenue _____ and the profit-maximizing output _____.
A) increases;decreases
B) increases;increases
C) decreases;increases
D) decreases;decreases
On Jun 17, 2024