Rick is an asparagus farmer and the world asparagus market is perfectly competitive. The market price is 21 a bundle. Rick sells 1400 bundles a week and his marginal cost is22 a bundle. Is Rick maximizing profit?
a) Yes, because his marginal cost is less than the market price.
b) No, because his marginal cost exceeds the market price.
c) Maybe, it depends on other factors not provided in the scenario.