An Increase in Productivity in the Agricultural Sector When the Demand

question 40

Multiple Choice

An increase in productivity in the agricultural sector when the demand curve is inelastic results in __________ prices for consumers and __________ revenues for farmers

• A)higher;lower
• B)higher;higher
• C)lower;lower
• D)lower;higher
• E)no change in;no change in

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Definitions:

Import Coffee

The act of bringing coffee into a country from abroad for sale, typically influenced by factors like global production, trade policies, and consumption patterns.

Trade

The exchange of goods and services between individuals, businesses, and countries.

Export Units

Export Units refers to the quantity of goods or services sent out of a country to foreign markets.

Import Units

A measure concerning the quantity of goods or services that a country brings in from other countries for domestic consumption or use.