If Soybean Farmers Know That the Demand for Soybeans Is

question 10

Multiple Choice

If soybean farmers know that the demand for soybeans is inelastic,in order to increase their total revenues they should

• A)use more fertilizers and weed killers to increase their yields.
• B)plant additional acres to increase their output.
• C)reduce the number of acres they plant to decrease their output.
• D)Both a and b are correct.

---

Definitions:

Water For Irrigation

Water specifically used for the purpose of watering crops in agriculture to assist in growth, supplementing the water these crops receive from natural rainfall.

Surface Runoff

Water flow on the surface of the ground, resulting from rain, snowmelt, or irrigation, which can carry pollutants into water bodies.

Groundwater

Water that collects or flows beneath the Earth's surface, filling the porous spaces in soil, sediment, and rocks.

Water Stressed

A condition in which the demand for water in a region exceeds the available supply, often leading to scarcity and competition for resources.