Suppose That Corn Farmers Want to Increase Their Total Revenue

question 8

Multiple Choice

Suppose that corn farmers want to increase their total revenue.Knowing that the demand for corn is inelastic,corn farmers should

• A)plant more corn so that they would be able to sell more each year.
• B)increase spending on fertilizer in an attempt to produce more corn on the acres they farm.
• C)reduce the number of acres on which they plant corn.
• D)contribute to a fund that promotes technological advances in corn production.

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Definitions:

Let The Customer Talk

A sales tactic emphasizing listening to the customer to better understand their needs and tailor the sales approach accordingly.

Trial Close

A technique used in sales to gauge a prospect's readiness to buy, by asking opinion-seeking questions regarding the product or deal before the final close.

Product's Benefits

The advantages or positive outcomes a consumer can expect from using a product.

Self-preservation

The instinctual behavior to protect oneself from harm or danger, influencing personal and professional decisions.