The concept of depreciation while widely employed, has little economic basis

Government intervention in agricultural markets in the U.S. began

A) during the Korean War. B) during World War II to ensure that enough food was available for domestic consumption. C) after World War I in order to assist farmers to adjust from a war-time economy to a peace-time economy. D) during the Great Depression.

Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:

A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.