|
Title: Many governments around the world attempt to improve the incomes of commodity producers by taking ... Post by: nakungth on Oct 24, 2017 Many governments around the world attempt to improve the incomes of commodity producers by taking steps to increase the commodity price in the domestic market. Although this may reduce quantity demanded for the product, the action may be effective because:
A) commodity supply tends to be inelastic, so quantity does not decline by much. B) commodity supply tends to be elastic, so producer income increases as a result of the higher prices and quantities. C) commodity demand tends to be inelastic, so higher prices generate higher sales revenue. D) commodity supply tends to be elastic, so producer income increases as a result of the higher prices and quantities. Title: Re: Many governments around the world attempt to improve the incomes of commodity producers by ... Post by: LBCea on Oct 24, 2017 C
|