Why is bad weather sometimes good news for farmers?
A) Bad weather shifts the supply curve of agricultural products leftward,driving up price and total revenue (assuming demand is inelastic) .
B) Bad weather shifts the supply curve of agricultural products leftward,driving down price,and raising total revenue (assuming demand is elastic) .
C) Bad weather increases the demand for and price of agricultural products.
D) Bad weather increases both the demand for and supply of agricultural products.
Correct Answer:
Verified
Q25: Exhibit 39-1 Q26: Which of the following is not an Q27: If the government establishes a price floor Q28: Under a marketing quota system, Q29: One unintended consequence of the various attempts Q31: In agriculture during much of the 20th Q32: Which of the following combinations of factors Q33: If the demand for a particular agricultural Q34: Exhibit 39-1 Q35: Which of the following government agricultural policies
A)the government sets
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents