Figure 5-12

-Refer to Figure 5-12.When a new,more productive strawberry plant was developed,causing supply to increase,what happened to strawberry farmers,and why
A)They were helped, since although price fell, total revenue increased, due to an inelastic demand curve.
B)They were hurt, since both price and total revenue fell due to an elastic demand curve.
C)They were hurt, since both price and total revenue fell due to an inelastic demand curve.
D)They were helped, since although price fell, total revenue increased, due to an elastic demand curve.

Question

Figure 5-12
 
-Refer to Figure 5-12.When a new,more productive strawberry plant was developed,causing supply to increase,what happened to strawberry farmers,and why
A)They were helped, since although price fell, total revenue increased, due to an inelastic demand curve. 
B)They were hurt, since both price and total revenue fell due to an elastic demand curve. 
C)They were hurt, since both price and total revenue fell due to an inelastic demand curve. 
D)They were helped, since although price fell, total revenue increased, due to an elastic demand curve.

Quizplus · Accepted Answer

The Answer of Figure 5-12
 
-Refer to Figure 5-12.When a new,more productive strawberry plant was developed,causing supply to increase,what happened to strawberry farmers,and why
A)They were helped, since although price fell, total revenue increased, due to an inelastic demand curve. 
B)They were hurt, since both price and total revenue fell due to an elastic demand curve. 
C)They were hurt, since both price and total revenue fell due to an inelastic demand curve. 
D)They were helped, since although price fell, total revenue increased, due to an elastic demand curve.

Figure 5-12 -Refer to Figure 5-12.When a New,more Productive Strawberry Plant Was