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The discovery of a new hybrid wheat would increase the supply of wheat. As a result, wheat farmers would realize an increase in total revenue if the

a. supply of wheat is elastic.

b. supply of wheat is inelastic.

c. demand for wheat is inelastic.

d. demand for wheat is elastic.

Respuesta :

ebrightosagie

Answer: d. demand for wheat is elastic.

Explanation:

A demand is said to be elastic demand  when there is a change in the quantity demanded due to a change in price which can normally be a hike or reduction. An inelastic demand is a demand in which the change in quantity demanded from a change in price is small. Just luke in the example cited abovethe discovery would lead to in revenu for the farmers.

Answer:

According to me the answer is d. demand for wheat is elastic.

Explanation:

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