Multiple Choice
The development of a new, more productive hybrid wheat would tend to decrease the total revenue of wheat farmers because:
A) the demand for wheat tends to be elastic
B) the supply of wheat tends to be elastic
C) the demand for wheat tends to be inelastic
D) the supply of wheat tends to be inelastic
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q40: In general, a firm will be able
Q41: How does total revenue change as one
Q42: If sellers do NOT respond at all
Q44: If price changes and total revenue changes
Q46: What is the price elasticity of supply?
Q47: The demand curve for a market may
Q48: A policy reducing the supply of drugs
Q49: The president of the university is concerned
Q50: List the following goods in order of
Q112: Supply is said to be inelastic if