Bill is a small farmer. You ask Bill how he decides whether to plant beans or corn. He claims the cost to produce either crop is the same; he determines which crop by choosing the one with the higher price. Does this make sense?

Group of answer choices:

A. No. Bill should decide based on his passion for producing one or the other crop.

B. Yes. Bill is only one producer among many and maximizes his profits by choosing to produce the crop that earns him the highest profit.

C. No. Bill needs to under market studies and then attempt to brand his crops and then he can choose which crop to plant.

D. Yes. But only in the short-run, next season he can use the profits from this season to market the crop with a lower price to attempt to increase the demand for that crop.

Answer rating: 100% (QA)

The detailed answer for the above question is provi... View the full answer