If the demand for wheat is highly price inelastic, an extraordinarily large crop may reduce farm incomes.

Name: If the demand for wheat is highly price inelastic, an extraordinarily large crop may reduce farm incomes.
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Quizplus · Accepted Answer

When demand is price inelastic, a significant increase in supply (such as from an extraordinarily large crop) leads to a relatively small increase in quantity demanded but a larger decrease in price, potentially reducing total revenue for farmers.

If the Demand for Wheat Is Highly Price Inelastic, an Extraordinarily