Multiple Choice
Good news for farming can be bad news for farmers because the
A) supply curve for an individual farmer is usually perfectly elastic.
B) supply curve for an individual farmer is usually perfectly inelastic.
C) demand for basic foodstuffs is usually inelastic,meaning that factors that shift supply to the right decrease total revenues to sellers.
D) demand for basic foodstuffs is usually elastic,meaning that factors that shift supply to the right increase total revenues to sellers.
Correct Answer:
Verified
Correct Answer:
Verified
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