Which of the following is not true?
A) The share of total farm receipts earned by the largest farms has been increasing during the past two decades.
B) Productivity in the farm sector has increased dramatically over the past 50 years.
C) The own-price elasticity is always negative.
D) None of the above (that is, all statements are true).
Answer: D
Economics
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Under the gold standard, if the dollar price of gold is pegged at $35 per ounce and the euro price of gold is pegged at 12 euro per ounce, what is the dollar/euro exchange rate?
What will be an ideal response?
Economics
If a firm increases output when MR > MC, then:
a. profit will equal zero. b. profit will increase. c. profit will decrease. d. profit will remain the same. e. the firm is minimizing losses.
Economics