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 56 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
YES! Correct, THANKS for helping me on my review

ktidd

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Hybrid Orbitals 2 Hybrid Orbitals 2
Active Genes Discovered In The Developing Mammal Brain Active Genes Discovered In The Developing Mammal Brain
A zebra/donkey hybrid A zebra/donkey hybrid
A recently discovered fossil of a missing evolutionary link is shown on the right, and a ... A recently discovered fossil of a missing evolutionary link is shown on the right, and a ...
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library