If Soybean Farmers Know That the Demand for Soybeans Is

question 221

Multiple Choice

If soybean farmers know that the demand for soybeans is price 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.

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