By selling additional wheat, each U.S. wheat farmer
A) decreases his total revenue because the demand for his wheat is elastic.
B) decreases his total revenue because the demand for his wheat is inelastic.
C) increases his total revenue because the demand for his wheat is elastic.
D) increases his total revenue because the demand for his wheat is inelastic.
C
Economics
You might also like to view...
Answer the following questions true (T) or false (F)
1. Government intervention in agriculture began in the United States in the 1890s. 2. Rent control is an example of a price floor. 3. Price floors are illegal in the United States.
Economics
A tax system in which tax rates fall as incomes rise is
A. Flat. B. Regressive. C. Proportional. D. Progressive.
Economics