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Social Science Clinic => Economics => Microeconomics => Topic started by: nummyann on Jul 1, 2018

Title: When agricultural production increases, the total amount paid for agricultural products tends to a. ...
Post by: nummyann on Jul 1, 2018
When agricultural production increases, the total amount paid for agricultural products tends to
 a. increase because demand is price elastic
  b. decrease because demand is price elastic
  c. increase because demand is price inelastic
  d. decrease because demand is price inelastic
  e. remain constant because demand is price inelastic

Question 2

Based on what you know about the determinants of price elasticiyt, the demands for agricultural products, like, wheat, soybeans, milk, and eggs tend to be
 a. price inelastic
  b. price elastic
  c. price inelastic only in the long run
  d. price elastic only in the short run
  e. price elastic only in the long run
Title: When agricultural production increases, the total amount paid for agricultural products tends to a. ...
Post by: jessofishing on Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A