If demand is inelastic, a drought around the world would ___the total revenue that farmers receive from the sale of grain.
Why would a drought only in Kansas most likely reduce the total revenues that Kansas farmers receive?
a. A drought in Kansas would significantly raise the worldwide price of grain.
b. A drought in Kansas would significantly lower the worldwide price of grain.
c. A drought in Kansas is not significant enough to affect the worldwide price of grain.
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Home » Business » If demand is inelastic, a drought around the world would ___the total revenue that farmers receive from the sale of grain. Why would a drought only in Kansas most likely reduce the total revenues that Kansas farmers receive? a.