Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
g
2
2
b
2
M
2
V
2
f
2
c
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Tidy Tidy
wrote...
Go to Answer
Posts: 4852
Rep: 38 0
9 years ago
Assume that the market for barley is in equilibrium and the demand for barley is inelastic. Predict what happens to the revenue of barley farmers if a prolonged drought reduces the supply of barley. The drought will cause farm revenue to
A) rise because there will be a shortage of barley.
B) rise because the percentage decrease in quantity sold is less than the percentage increase in price.
C) rise because the percentage increase in quantity sold is greater than the percentage increase in price.
D) fall because of the decrease in the quantity of barley sold.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 431 times
2 Replies
Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
Replies
Answer verified by a subject expert
SmooothSmoooth
wrote...
#1
Top Poster
Posts: 5500
Rep: 381 0
9 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
9 years ago
Don't mention it Happy Dummy
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  391 People Browsing
 111 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 176
  
 207
  
 184
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: What's your favorite funny biology word?