Question
The demand for soybeans is inelastic. What would be the effect on the soybean market if the number of soybean farmers decreases due to unfavourable
The demand for soybeans is inelastic. What would be the effect on the soybean market if the number of soybean farmers decreases due to unfavourable farming conditions? The price of soybeans would __________ and soybean growers' revenue would __________.
[1] increase; increase
[2] increase; decrease
[3] decrease; increase
[4] decrease; decrease
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An Inquiry Into The Nature And Causes Of The Wealth Of Nations
Authors: Adam Smith, R H Campbell
1st Edition
0865970068, 9780865970069
