Answer to Question #70511 in Microeconomics for ritik

Question #70511
explain a drought around the world raises the total revenue that farmers receives from the sale of grains but a drought only in punjab reduces the total revenue that farmers in punjab receive ?
1
Expert's answer
2017-10-11T12:30:06-0400
With drought around the world, total income is rising for grain growers, as grain prices are rising substantially, as the level of harvested grain is reduced significantly and the grain will become more valuable. And for farmers in punjab, total income will decrease, then farmers will not be able to influence the world prices for grain, because the grain collected in punjab is a small part of the world's grain. And if the grain is reduced, the income will decrease.

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Comments

Vishesh Tyagi
11.02.23, 14:14

Thanks alot sir/mam.

Assignment Expert
16.10.17, 21:44

Dear ritik, If you have serious assignment that requires large amount of work and hence cannot be done for free you can submit it as assignment and our experts will surely assist you. Price depends on complexity of your assignments and deadline. Please submit your assignments to our control panel and you'll get price estimation. If you have further questions please feel free to ask them via info@assignmentexpert.com (our support department) or use live chat on this website.

ritik
14.10.17, 19:16

sir,can u explain this question with diagram...because some problem is created in my mind

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