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joja [24]
3 years ago
9

12. Problems and Applications Q12 A drought around the world reduces the total revenue that farmers receive from the sale of gra

in if demand is . Why would a drought only in Kansas most likely reduce the total revenues that Kansas farmers receive? A drought in Kansas is not significant enough to affect the worldwide price of grain. A drought in Kansas would significantly lower the worldwide price of grain. A drought in Kansas would significantly raise the worldwide price of grain.
Business
1 answer:
IrinaVladis [17]3 years ago
6 0

Answer:

Elastic

A drought in Kansas would significantly raise the worldwide price of grain

Explanation:

Elastic demand means that quantity demanded is sensitive to price changes. If there's a small change in price, there's a greater change in quantity demanded.

If there's a drought in kansas, the amount of grains produced would fall. This would make grains scarce and increase the price of grain. If the elasticity of demand for grain is elastic, the price increase would lead to a reduction in quantity demanded. As a result, the revenue received by farmers would fall.

I hope my answer helps you

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There are advantages to doing business with just one vendor, and you should always stick to just one if you can
Rama09 [41]

Answer:

False.

The advantages from 1 vendor to 1 business relationship is that the trust implicit in the contract is stronger as both parties need each other to gain. Logistically there are obvious advantages to the only use of 1 vendor, but the disadvantage is the power that is gained by the vendor in front of the business.  

This means that if a company only uses one vendor, but this vendor provides to several companies. Then, if the vendor decides to charge a higher price for the goods or services the company will have to accept as it does not have another vendor to get the goods or services from.  

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3 years ago
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ioda
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What early efforts were made to control the new corporate industrial giants, and how effective were these efforts?
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3 years ago
Stock in Daenerys Industries has a beta of 1.3. The market risk premium is 7 percent, and T-bills are currently yielding 4.5 per
vesna_86 [32]

Answer:

13.05%

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= 0.045+1.3*(0.07)

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= (D0*(1+g)/P0) = g

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