If a Drought Increases the Price of Corn by 10

question 48

Multiple Choice

If a drought increases the price of corn by 10% and decreases the quantity of corn demanded by 5%,then demand for corn is

• A)elastic and total revenue to corn farmers will decrease.
• B)inelastic and total revenue to corn farmers will decrease.
• C)elastic and total revenue to corn farmers will increase.
• D)inelastic and total revenue to corn farmers will increase.

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Definitions:

Arthroscopy

A minimally invasive surgical procedure used to diagnose and treat joint problems through a small incision using an arthroscope.

Diagnostic Procedure

A medical test performed to aid in the diagnosis or detection of disease, injury, or other medical condition.

Joint

A point where two bones are connected in the body, allowing for movement and support.

Visual Inspection

The process of examining something closely, primarily using the sense of sight, often to assess its condition or to find defects.