Why is bad weather sometimes good news for farmers?
A) Bad weather shifts the supply curve of agricultural products leftward, driving up price and total revenue (assuming demand is inelastic).
B) Bad weather shifts the supply curve of agricultural products leftward, driving down price, and raising total revenue (assuming demand is elastic).
C) Bad weather increases the demand for and price of agricultural products.
D) Bad weather increases both the demand for and supply of agricultural products.
A
You might also like to view...
Since 1997, the labor force participation rate for women in the United States has
A) decreased more than 20 percent. B) increased more than 10 percent. C) remained virtually constant. D) equaled the participation rate for men.
Refer to Figure 5.1. In which graph could a shift from BL1 to BL2 represent a doubling of the prices of both Books and DVDs?
A. A
B. B
C. C
D. D
Because individuals weigh costs and benefits, their economic decisions are _______________.
a. random b. insatiable c. rational d. greedy
Communication between the teacher and parents should:
A. be a one-way communication. B. occur when the teacher has a concern. C. be mutually beneficial and a reciprocal relationship. D. occur during parent-teacher conferences.