Author Question: By selling additional wheat, each U.S. wheat farmer A) decreases his total revenue because the ... (Read 59 times)

Kthamas · **on:** Jun 29, 2018

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.

Question 2

When both the demand for a good increases and the supply of the good increases, the equilibrium quantity definitely increases.

Indicate whether the statement is true or false