• 2022-06-07
    If corn farmers know that the demand for corn is inelastic, and they
    want to increase their total revenue, they should all: ()
    A: plant
    more corn so that they would be able to sell more each year.
    B: increase
    spending on fertilizer in an attempt to produce more corn on the
    acres they farm.
    C: reduce
    the number of acres they plant in corn.
    D: contribute
    to a fund that promotes technological advances in corn production.
  • C

    内容

    • 0

      As a result of running high temperature this summer in the south of China, the corn crop declined sharply. If corn growers experienced an increase in sales revenue, the demand for corn must be ( ) A: price elastic. B: price inelastic. C: unitary elastic. D: perfectly inelastic.

    • 1

      A farmer needs to decide whether to grow corn or raise cattle. Which of the following would feed the highest number of people? A: 100 % cattle,0% corn B: 75% cattle, 25% corn C: 50% cattle, 50% corn D: 25% cattle, 75% corn E: 0 % cattle, 100 % corn

    • 2

      A<br/>farmer has the ability to grow either corn or cotton or some<br/>combination of the two. Given no other information, it follows that<br/>the farmer’s opportunity cost of a bushel of corn multiplied by<br/>his opportunity cost of a bushel of cotton ( ) A: is<br/>equal to 0. B: is<br/>between 0 and 1. C: is<br/>equal to 1. D: is<br/>greater than 1.

    • 3

      Which<br/>of the following crops are cross-pollinated crops () A: Rice B: Wheat C: Corn D: Rye

    • 4

      The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price. A: fall; smaller B: fall; greater C: rise; smaller D: rise; greater