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Aliun [14]
3 years ago
5

Between 1950 and​ 2017, the price of wheat fell dramatically from​ $19.23 per bushel to​ $3.85 per bushel. Suppose between 1950

and​ 2017, the supply of wheat increased substantially due to increases in​ productivity, shifting the wheat supply curve to the right. With this supply​ shift, the amount by which the price of wheat falls will be larger the more inelastic elastic the demand for wheat..
In addition, assume that between 1950 and 2006 the income of the average American increased substantially and that wheat is a normal good.
With this increase in income.
A) the price of wheat will be unaffected.
B) the amount by which the price of wheat rises will be smaller the higher the income elasticity of wheat.
C) the amount by which the price of wheat falls will be larger the lower the income elasticity of wheat.
D) the amount by which the price of wheat falls will be smaller the lower the income elasticity of wheat.
E) the amount by which the price of wheat rises will be smaller the lower the income elasticity of wheat.
Business
1 answer:
wariber [46]3 years ago
7 0

Answer:

d

Explanation:

the amount by which the price of wheat falls will be smaller the lower the income elasticity of wheat. So, that´s why the income elasticity of wheat is for.

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Answer:

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Production Budget for 2022:

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Unit sales                   108,000      63,000        73,000     118,000    362,000

Ending inventory        12,600        14,600        23,600      18,800        18,800

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Explanation:

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Quarter Units    Quarter Units

1 108,000             1 94,000

2 63,000

3 73,000

4 118,000

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Unit sales                 108,000    63,000        73,000     118,000       94,000

Beginning inventory 21,600      12,600        14,600      23,600        18,800

Ending inventory      12,600      14,600        23,600      18,800

Production Budget for 2022:

                                Quarter 1     Quarter 2   Quarter 3  Quarter 4    Total

Unit sales                   108,000      63,000        73,000     118,000    362,000

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Production units        99,000      65,000        82,000     113,200    359,200

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