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

Author Question: The price elasticity of demand for wheat is 0.42. A drought cuts the supply of wheat. What will ... (Read 245 times)

yoooooman

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
The price elasticity of demand for wheat is 0.42. A drought cuts the supply of wheat. What will happen 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

In the above figure, the economy is initially at point B. If the exchange rate falls, there is
 
  A) a movement to point C.
  B) a movement to point A.
  C) a shift to AD2.
  D) a shift to AD1.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


yoooooman

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
:D TYSM

tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

cheat sheet for cuts of beef. cheat sheet for cuts of beef.
Connect a fused jumper wire to supply 12 volts to terminal 86 and a ground to terminal 85 of the ... Connect a fused jumper wire to supply 12 volts to terminal 86 and a ground to terminal 85 of the ...
Classic Supply - Demand Curve Classic Supply - Demand Curve
Blood and Nerve Supply of Bone Blood and Nerve Supply of Bone
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
The evolution of modern wheat The evolution of modern wheat
Video: Secondary and tertiary levels of protein structure Animation

For a complete list of videos, visit our video library