An Increase in the Supply of Corn Will Lower the Total

question 60

Multiple Choice

An increase in the supply of corn will lower the total revenue from corn if

• A)the demand curve for corn is inelastic between the current and new price of corn.
• B)the demand curve for corn is elastic between the current and new price of corn.
• C)there are many substitutes for corn.
• D)there are only a few substitutes for corn.
• E)none of the above

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Definitions:

Return On Assets

Net income divided by assets.