Multiple Choice
Bad weather is likely to
A) raise the total revenue farmers receive for their foodstuffs,assuming that demand for their products is inelastic.
B) lower the total revenue farmers receive for their foodstuffs,assuming that demand for their products is elastic.
C) leave the total revenue farmers receive for their foodstuffs unchanged.
D) change the income elasticity of demand for food.
E) c and d
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Under the target price system,<br>A)supply is restricted.<br>B)consumers
Q48: Exhibit 39-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1429/.jpg" alt="Exhibit 39-2
Q49: Exhibit 39-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1429/.jpg" alt="Exhibit 39-4
Q50: For farmers as a group,increased productivity can
Q51: A government agricultural policy that sets a
Q53: The combination of low income elasticity of
Q54: Exhibit 39-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1429/.jpg" alt="Exhibit 39-4
Q55: Suppose farmers agree to reduce their supply
Q56: In the acreage allotment program,a farmer's acreage
Q57: If the demand for agricultural products is