This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The price elasticity of demand for corn is 0.4. A new hybrid of corn is discovered and all farmers ... (Read 71 times)

bobbie

  • Hero Member
  • *****
  • Posts: 592
on: Jun 29, 2018
The price elasticity of demand for corn is 0.4. A new hybrid of corn is discovered and all farmers start to use it, which increases the quantity of corn they can produce from each acre. What happens to the farmers' total revenue?
 
  A) The total revenue will increase.
  B) The total revenue will decrease.
  C) The total revenue will not change.
  D) There is not enough information to determine what happens to the total revenue.

Question 2

If the target exchange rate is 100 yen per dollar and the current exchange rate is 90 yen per dollar, the Fed will
 
  A) sell dollars and the demand for dollars will increase.
  B) sell dollars and the demand for dollars will decrease.
  C) buy dollars and the demand for dollars will increase.
  D) buy dollars and the demand for dollars will decrease.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cclemon1

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


bobbie

  • Member
  • Posts: 592
Reply 2 on: Jun 29, 2018
:D TYSM

anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Results of selective breeding for oil content in corn plants. Results of selective breeding for oil content in corn plants.
Recently discovered species Tersicoccus phoenici under microscope Recently discovered species Tersicoccus phoenici under microscope
Japanese farmers create pentagon-shaped oranges Japanese farmers create pentagon-shaped oranges
A Toyota/Lexus hybrid electric vehicle has a ready light. If the ready light is on, the engine can ... A Toyota/Lexus hybrid electric vehicle has a ready light. If the ready light is on, the engine can ...
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Early growth of corn (Zea mays), a typical monocot. Early growth of corn (Zea mays), a typical monocot.
Video: baroreceptors

For a complete list of videos, visit our video library