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
E
Economics
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When a farmer uses someone else's land in exchange for a percentage of the crop, this is called
a. rental contract b. labor contract c. sharecropping d. tenancy e. none of the above
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