If the Demand Curve for Agricultural Products Is Elastic and Farmers

question 32

Multiple Choice

If the demand curve for agricultural products is elastic and farmers as a group become more productive,then prices of agricultural goods will __________ and total revenue earned by farmers will __________.

• A)decrease;increase
• B)decrease;decrease
• C)increase;increase
• D)increase;decrease
• E)We cannot answer this question without knowing how elastic the demand curve is.

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