A farmer produces two goods wheat and rice with the help of given resources. The price of rice increases. What will the farmer do in this case and why?

Nikita Chetry
Latest Answer: 1 month ago
In: Commerce

A farmer produces two goods wheat and rice with the help of given resources. The price of rice increases. What will the farmer do in this case and why?

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1 Answers

Answered By Nikita Chetry
Answer: 1 month ago

The farmer will divert his resources from production of wheat to production of rice to produce more rice due to increase in the price of rice. It will be profitable for him to grow more rice. Read More

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