The market demand for wheat is ________ and the demand for wheat produced by an individual farm is ________
A) perfectly elastic; perfectly inelastic
B) not perfectly elastic; perfectly elastic
C) not perfectly inelastic; inelastic
D) elastic; unit elastic
B
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Financial intermediaries reduce risk by
A) investing in a large number of projects with independent returns. B) gaining expertise in evaluating and monitoring investments. C) investing in a small number of projects with independent returns. D) limiting the diversity of their investment portfolios.
You earned $30,000 in 2007, and your salary rose to $80,000 in 2016. If the CPI rose from 82 to 202 between 2007 and 2016, which of the following is true?
A) The purchasing power of your salary increased between 2007 and 2016. B) There was deflation between 2007 and 2016. C) The purchasing power of your salary fell between 2007 and 2016. D) The purchasing power of your salary remained constant between 2007 and 2016.