Exhibit 39-5 -Refer to Exhibit 39-5.Low Price Elasticity of Demand for Corn

question 83

Multiple Choice

Exhibit 39-5
-Refer to Exhibit 39-5.Low price elasticity of demand for corn coupled with unpredictable weather makes both price and total revenue in the market for corn extremely volatile.Which of the supply curves would result in the least volatility?

• A)S₁.
• B)S₂.
• C)S₃.
• D)The changes are not dependent upon elasticity of supply.

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