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.
C
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Suppose that the productivity used to produce computers advances. How does this change affect the supply of computers and the supply curve of computers?
What will be an ideal response?
As owner of a one-third share of a partnership, Josh is legally liable for
A) none of its debts. B) one-third of its debts. C) all of its debts. D) all of its taxes but none of its private debt.
The above figure shows the demand and cost curves for a firm in ________ in the ________
A) perfect competition; short run B) monopolistic competition; long run C) perfect competition; long run D) monopolistic competition; short run
In a small Asian country, it is estimated that changing the level of capital from $8 million to $12 million will increase real GDP from $5 million to $6 million
If the number of hours worked in the labor force does not change, what does this information tell you about the slope of the per-worker production function in this range? A) The slope is -4. B) The slope is 1/4. C) The slope is 4. D) The slope is 8.