Sells winter wheat in perfectly competitive market

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Farmer Ted sells winter wheat in a perfectly competitive market. The market price for a bushel of winter wheat is $9. Ted has 270 bushels of wheat to sell. If his total variable cost is $2,000 and his total fixed cost is $500, then Ted:

is minimizing his losses.

is earning a normal profit.

is earning positive economic profits.

should raise his price.

Reference no: EM131295625

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