Increased productivity in the agricultural sector is not always a benefit to farmers because it is accompanied by
A) lower prices and if demand is inelastic, lower prices mean lower revenues.
B) higher prices and if demand is elastic, higher prices mean lower revenues.
C) lower prices and if demand is elastic, lower prices mean lower revenues.
D) higher prices and if demand is inelastic, higher prices mean lower revenues.
A
You might also like to view...
A decrease in demand is represented by
a. a shift outward of the entire demand curve. b. a shift inward of the entire demand curve. c. a movement along the demand curve in a southeasterly direction. d. a movement along the demand curve in a northwesterly direction.
According to supply-side economics, when operating in the upper portion of the Laffer curve, tax cuts result in
A. interest rate increases. B. productivity decreases. C. income decreases. D. tax revenue increases.
What is disposable income? How is it calculated?
What will be an ideal response?
The two economists associated with the development of the theory of monopolistic competition were
A) Joan Robinson and Edward Chamberlin. B) David Hume and Adam Smith. C) John Neville Keynes and John Maynard Keynes. D) Carl Menger and Eugen Von Bohm-Bawerk.