Market focus is a marketing research firm that organizes focus groups for consumer-product companies. each focus group has eight individuals who are paid $60 per session to provide comments on new products. these focus groups meet in hotels and are led by a trained, independent marketing specialist hired by market focus. each specialist is paid a fixed retainer to conduct a minimum number of sessions and a per session fee of $2,200. a market focus staff member attends each session to ensure that all the logistical aspects run smoothly.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.