Considering the Price-Elasticity of Demand for Wheat, We Would Expect

question 14

Multiple Choice

Considering the price-elasticity of demand for wheat, we would expect that if the supply of wheat increases, other factors constant, then wheat farmers' total revenues would

• A) increase because the demand is price-inelastic.
• B) decrease because the demand is price-inelastic.
• C) increase because the demand is price-elastic.
• D) decrease because the demand is price-elastic.

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