If the Demand Curve for Wheat Is Inelastic, Then Total

question 210

Multiple Choice

If the demand curve for wheat is inelastic, then total farm income from wheat will be

• A) higher in years of low yields and lower in years of high yields.
• B) lower in years of low yields and higher in years of high yields.
• C) higher in years of falling prices.
• D) lower in years of rising prices.

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