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▼inelasticelasticthe demand for wheat.
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