Question

What type of market model is wheat farm?

Answer 1

Competitive

Step-by-step explanation:

The market for wheat is often taken as an example of a competitive market, because there are many producers, and no individual producer can affect the market price by increasing or decreasing his output. For this reason, each farmer takes the market price as predetermined.

Answer 2

competitive

Step-by-step explanation:

The market for wheat is often taken as an example of a competitive market because there are many producers, and no individual producer can affect the market price by increasing or decreasing its output. For this reason, each farmer takes the market price as predetermined.