Price inelastic over relevant range of prices

When the market demand for wheat is price inelastic over relevant range of prices, fluctuations within the supply of wheat will cause incomes of wheat farmers to: (w) increase when supply decreases and decline while the supply of wheat increases. (x) stabilize relative to incomes of people who live in main cities and suburbs. (y) fluctuate within the opposite direction from supply. (z) decline like a share of national income like national income increases.

Hey friends please give your opinion for the problem of Economics that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Problem on certainty of punishment

Raising the severity and certainty of punishment decreases the cheating on examinations. This statement imitates: (1) Misplaced cynicism as this issue is ethical, not economic. (2) Purely normative views of the behavior. (3) Unrealistic expectations regarding student

Q : Problem onto public sector The word “

The word “public sector” signifies to: (1) Stockholders and households. (2) Investors and Consumers. (3) Households and investors. (4) Democratic voting systems. (5) All actions of government. Hey frien

Q : Central bank as lender of last resort

The central bank performs as lender of last resort. Explain how? Answer: The central bank too acts as lender of last resort for other banks of the country. This mea

Q : Difference between planned and actual

Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<

Q : Marginal revenue-product of the labor

The monopsonist will hire labor till labor's marginal resource cost equivalents the: (p) The value of average product of labor. (q) Price of labor. (r) Marginal revenue product of labor. (s) Marginal physical product. Choose the ri

Q : Charting of past prices Can the

Can the charting of past prices be used to predict future prices?

Q : Labor markets profit maximization When,

When, after hiring the very last worker, the organization’s profit is similar as it was before the last worker was hired, then the firm must: (1) Hire more workers to raise the profit. (2) Layoff some workers to raise the profit. (3) Not appoint any more workers

Q : Perfectly price inelastic demand For

For Cournot’s Spring Water the demand is perfectly price inelastic at: (i) point a. (ii) point b. (iii) point c (iv) point d. (v) point e.

Q : Variation in demand and supply with

It shifts within the demand for new textbooks from D0 to D1 may be a result of: (1) increased enrollments of students. (2) consumers' expectations of a future increase within the price of textbooks. (3) increased literacy rates. (4) increasingly efficient E-

Q : Positive values of marginal utility

The Positive values of marginal utility curve are related with: (i) Reducing values of net utility. (ii) The highest point on a net utility function. (iii) Negative values of a net utility function. (iv) Rising values of total utility.

Discover Q & A

Leading Solution Library

Avail More Than 1424912 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1936613
Asked

3,689

Active Tutors

1424912

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment