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jekas [21]
2 years ago
5

If wheat farmers know that the demand for wheat is inelastic, and they want to increase their total revenue, they should all?

Business
1 answer:
Sedbober [7]2 years ago
5 0

If wheat farmers know that the demand for wheat is inelastic, and they want to increase their total revenue then they should increase the price of wheat to increase total revenue.

Given that the demand for wheat is inelastic and the farmers want to increase their total revenue.

We are required to find how the farmers increase their total revenue if the demand of wheat is inelastic.

Inelastic demand means that the demand is likely not to be change by a change in the price of commodity.

If the demand is not likely to change by the change in the price then the farmers can increase their total revenue by increasing the price because the total revenue is the product of price and quantity.

Hence if wheat farmers know that the demand for wheat is inelastic, and they want to increase their total revenue then they should increase the price of wheat to increase total revenue.

Learn more about inelasticity at brainly.com/question/26850555

#SPJ4

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A scientist has samples of both nitrogen (N2) and hydrogen (H2). Both of these substances are odorless, colorless gases at room
Alex17521 [72]

Answer: C.  A new compound formed when nitrogen and hydrogen chemically reacted.

Explanation:

Due to the temperature increase, the atoms of both Nitrogen and Hydrogen reacted chemically with one another and formed a new compound which was still colorless but now had a strong odor as well.

This new compound is known as Ammonia with the chemical composition NH₃. It is formed when Hydrogen and Nitrogen react chemically. Ammonia is a colorless gas with a sharp strong odor.

3 0
2 years ago
Porter argues that a nation's firms gain competitive advantage if Group of answer choices the country has an abundant supply of
Anit [1.1K]

Answer: their domestic consumers are demanding

Explanation:

In Porter's Diamond Strategy, he explains why some nations are more competitive than others. One of the factors mentioned was the DEMAND CONDITIONS.

He posited that home demand has a huge influence on how favourable domestic industries are.

How?

A larger market at home presents companies with challenges as well as more opportunities to grow and become better and more efficient.

Striving to satiate such a demand will enable companies to scale new heights and they will learn more about consumer behavior much quicker. They will then use this knowledge to apply and conquer new markets thanks to being forced to adapt early by their own domestic market.

If you need any clarification do react or comment.

5 0
3 years ago
Which best describes the role of financial planning?
Natasha_Volkova [10]
Investing and saving
8 0
3 years ago
How would you expect each of the following to affect the economy-wide demand for U.S. money (currency)? a. Competition among bro
Anna007 [38]

Answer:

Market interest rate is also known as nominal interest rate. The nominal interest rate is sum of real interest rate and inflation rate. Fed try to control the monetary condition and real interest rates by manipulating money supply. These interest rates also affect the demand of money in market.

Part (a)

When commission of brokers decreases then buying and selling of stocks becomes easier and cheaper and people would transact in more and more stocks which will decrease the demand of money as liquidity of stock has increased.

Part (b)  

When grocery store starts accepting credit cards then people would need to carry less cash and demand of money will decrease.

Part (c)

As financial investors are now worried about riskiness of stocks so they will decrease their investment in stocks and prefer holding more money so demand of money will increase.

5 0
3 years ago
Bravo company had $5,100 of supplies on hand at the beginning of 2016. on march 31 bravo purchased an additional $12,400 of supp
lana66690 [7]
Supplies expense is $11,400.00.

Expenses = Beg Inv + Addl Inv - Remaining
                 = 5,100 + 12,400 - 6,100
                 = 11,400
8 0
3 years ago
Read 2 more answers
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