Author Question: Land suitable for growing wheat can also be used to farm dairy cattle. Therefore, from the farmer's ... (Read 165 times)

soccerdreamer_17 · **on:** Jun 29, 2018

Land suitable for growing wheat can also be used to farm dairy cattle. Therefore, from the farmer's perspective, an increase in the price of wheat tends to

A) reduce the demand for wheat.
B) increase the demand for dairy cattle.
C) decrease the cost of farming dairy cattle.
D) increase the cost of farming dairy cattle.

Question 2

When a nation exports a good, its ________ surplus decreases and its ________ surplus increases.

A) consumer; total
B) consumer; consumer
C) producer; producer
D) producer; consumer
E) total; consumer