extensive flooding in the midwest decreases the world supply of corn. if corn is inelastically demanded, what will happen to total revenues from corn production?

Respuesta :

The decline in revenue per unit sold is more than made up for by increased sales. The Midwest's extensive flooding reduces the amount of corn available globally.

What is corn production?

  • The seed, or corn kernel, sprouts after being sown in the ground and given appropriate water. When maize flowers and is pollinated by bees or other insects, the corn plant photosynthesizes, grows higher, and then the corn plant itself. The plant eventually yields fruit or ears of corn that the farmer can harvest for food.
  • The world's largest producer, user, and exporter of corn is the United States. Every year, around 90 million acres of maize are planted by American farmers, with the Heartland producing the majority of the crop.
  • Native Americans in southern Mexico domesticated corn for the first time around 10,000 years ago. It is thought that the Balsas teosinte (Zea mays parviglumis), a wild grass, is the ancestor of modern corn.

To learn more about corn production refer to:

https://brainly.com/question/25899399

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