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The productivity of the agriculture sector (of the economy) increases dramatically. A likely ...

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The productivity of the agriculture sector (of the economy) increases dramatically. A likely ...

The productivity of the agriculture sector (of the economy) increases dramatically. A likely consequence is:

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increased resources flowing into the agriculture sector.

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an increase in the supply of foodstuffs and lower prices for foodstuffs.

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an increase in the total revenue (farmers' receive) from selling foodstuffs, assuming the demand for their products is elastic.

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a decrease in the total revenue (farmers' receive) from selling foodstuffs, assuming the demand for their products is inelastic.

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none of the above

Textbook

Economics

Edition: 12^th

Author: Arnold

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