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 159 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
Gracias!

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

cheat sheet for cuts of beef. cheat sheet for cuts of beef.
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Blood Supply of the Liver Blood Supply of the Liver
The original Supply and Demand graph The original Supply and Demand graph
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
The evolution of modern wheat The evolution of modern wheat
Video: Asthma Treatment

For a complete list of videos, visit our video library