If the Elasticity of Demand Curve for Buckwheat Is -1

question 52

True/False

If the elasticity of demand curve for buckwheat is -1.25 at all prices higher than the current price, we would expect that when bad weather reduces the size of the buckwheat crop, total revenue of buckwheat producers will fall.

---

Definitions:

Pancreatic Duct

A tube in the pancreas through which pancreatic juices flow into the small intestine.

Pancreatic Juice

A digestive fluid secreted by the pancreas containing enzymes that assist in the digestion of proteins, fats, and carbohydrates.

Canines

The sharp, pointed teeth next to the incisors in mammals that are often used for biting and tearing food.

Transverse Colon

The segment of the large intestine that crosses the upper abdominal cavity between the ascending and descending colon.