Suppose a Decrease in the Supply of Wheat Results in an Increase

question 4

Multiple Choice

Suppose a decrease in the supply of wheat results in an increase in revenue.This indicates that

• A)the decrease in quantity sold is proportionately larger than the resulting change in price.
• B)the resulting increase in price is proportionately greater than decrease in quantity sold.
• C)the demand curve for wheat must be vertical.
• D)the supply curve for wheat must be vertical.

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Definitions:

Simp

A slang term often used to describe someone who demonstrates excessive sympathy or attention towards someone else, typically someone they are romantically interested in, in a way that is seen as undignified or without reciprocation.

Conj

Short for "conjunction," a part of speech that connects words, phrases, or clauses in a sentence.

Add

To add means to combine or join something with another, resulting in an increase in quantity, number, or significance.

Simp

A slang term used to describe someone who performs excessive sympathy or attention towards another person, typically someone they're interested in, often disregarding their own needs or interests.