# econ

A bumper crop of farm products causes:
1)
only a slight decline in the price of farm products because the demand for farm products is income inelastic.
2)
a large decline in the price of farm products because the demand for farm products is price inelastic.
3)
only a slight decline in the price of farm products because the demand for farm products is income elastic.
4)
a large decline in the price of farm products because the demand for farm products is price elastic.

1. 👍 0
2. 👎 0
3. 👁 121

## Similar Questions

1. ### History

“...[The] said Cooper Hughs Freedman with his wife...are to work on said farm and to cultivate forty acres in corn and twenty acres in cotton, to assist in putting the fences on said farm in good order and to keep them so and to

2. ### Social Studies

1. How did mechanization change the agricultural industry? (Choose all that apply. 1. it increased production of crops 2.it caused the cotton industry to decline 3.made dairy products safer to consume 4.caused a decrease in

3. ### Algebra 1- Urgent

The price of products may increase due to inflation and decrease due to depreciation. Derek is studying the change in the price of two products, A and B, over time. The price f(x), in dollars, of product A after x years is

4. ### Math

2.The price of products may increase due to inflation and decrease due to depreciation. Derek is studying the change in the price of two products, A and B, over time. The price f(x), in dollars, of product A after x years is

1. ### organic chemistry

1. A chemist conducted a recrystallization on 18.5 g of a solid and collected 11.2 g as a first crop. She re-cooled the mother liquor and obtained 2.1 g as a second crop. Show your calculation when answering the following

2. ### math

A farmer is going to divide her 50 acre farm between two crops. Seed for crop A costs \$50 per acre. Seed for crop B costs \$25 per acre. The farmer can spend at most \$2,250 on seed. If crop B brings in a profit of \$90 per acre, and

3. ### Physics

Jenny and Betty are having a great time at Busch Gardens riding the Ubanga Banga bumper cars. Jenny, who is traveling southward in her bumper cars, aims her cars toward Betty, who is traveling northward in her bumper car. The cars

4. ### Statistics

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 52 farming regions gave a sample mean of = \$6.68 per 100 pounds of watermelon. Assume that is known to be \$1.94 per 100 pounds. A

1. ### History

How did joint-stock companies lead to the development of one-crop economies in the colonies? a.Many joint-stock companies established a monopoly on one cash crop in order to become profitable. b.Many colonies sought to create

2. ### Financial Management

The group product manager for ointments at American Therapeutic Corporation was reviewing price and promotion alternatives for two products: Rash-Away and Red-Away. Both products were designed to reduce skin irritation, but

3. ### math

A farmer has 200 acres of land suitable for cultivating crops A, B and C. The cost per acre of cultivating crop A, crop B and crop C is \$40, \$60 and \$80, respectively. The farmer has \$12,600 available for land cultivation. Each

4. ### economics

Every year Christmas tree vendors bring tens of thousands of trees from the forests of New England to New York City and Boston. During the last two years, the market has been very competitive; as a result, price has fallen by 10