A. increase total revenue to farmers as a whole because the demand for food is elastic
B. increase total revenue to farmers as whole because the demand for food is inelastic
C. reduce total revenue to farmers as a whole because the demand for food is elastic
D. reduce total revenue to farmers as a whole because the demand for food is inelastic
Related Mcqs:
- Technological improvements are similar to international trade since they both ?
A. Provide benefits for all producers and consumers
B. Increase the nation’s aggregate income
C. Reduce unemployment for all domestic workers
D. Ensure that industries can operate at less than full capacity - A decrease (leftward shift) in the supply for a good will tend to cause ?
A. an increase in the equilibrium price and quantity
B. a decrease in the equilibrium price and an increase in the equilibrium quantity
C. none of these answers
D. a decrease in the equilibrium price and quantity.
E. an increase in the equilibrium price and a decrease in the equilibrium quantity - Agricultural prices tend to be unstable because ?
A. Supply is price elastic
B. Demand is price elastic
C. Supply is stable
D. Demand and supply are price inelastic - An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?
A. reduces; reduces
B. reduces; increases
C. increases; increases
D. increases; reduces - An increase (rightward shift) in the demand for a good will tend to cause ?
A. an increase in the equilibrium price and quantity
B. none of these answers
C. an increase in the equilibrium price and a decrease in the equilibrium quantity
D. a decrease in the equilibrium quantity.
E. a decrease in the equilibrium price and quantity. - When supply increase in an agricultural market farmer’s earning might fall because ?
A. Supply is price elastic
B. Demand is price inelastic
C. The government buys up all the excess production
D. All output must be sold at a maximum price - _________ is a principle of enlightened marketing that requires that a company seek real product and marketing improvements ?
A. Innovative marketing
B. Consumer oriented marketing
C. value marketing
D. Sense of mission marketing - A decrease in supply (shift to the left) will increase total revenue in that market if ?
A. demand is price inelastic
B. supply is price elastic
C. supply is price inelastic
D. demand is price elastic - A number of relating prices of a group of commodities to their prices during an arbitrarily chosen based period is called ?
A. Price index
B. Price indexing
C. Price fixing
D. Price choosing - Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade
