If soybean farmers know that the demand for soybeans is inelastic, in order to increase their total revenues they should
a. use more fertilizers and weed killers to increase their yields.
b. plant additional acres to increase their output.
c. reduce the number of acres they plant to decrease their output.
d. Both a and b are correct.
c
Economics
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What will be an ideal response?
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Which is NOT true of Globalization
A. it refers to increasing economic and cultural interdependency amongst countries B. it results in the financial ruin of some countries C. it potentially increases economic well-being among all countries involved D. it results in increasing competition, specialization, transmission of ideas.
Economics