Large and efficient agricultural producers like Argentina and Australia protect that sector heavily

In an oligopoly price-fixing game, each player tries to

A) minimize the market shares of its opponents. B) maximize its own market share. C) minimize the profits of its opponents. D) maximize its own profit.

Which of the following is not likely to cause a change in the supply of wheat?

a. a government subsidy to farmers who do not grow wheat b. an increase in the price of soybeans c. a decrease in the price of fertilizer d. a fall in the price of wheat e. producers expect product prices to rise