If the demand for an agricultural product is inelastic, a bumper crop will

A) raise price and decrease total revenues.
B) raise price and increase total revenues.
C) lower price and decrease total revenues.
D) lower price and increase total revenues.

Price Elasticity

An indicator showing the reaction of consumer demand for a product to shifts in its price, illustrating how price fluctuations affect buyer sensitivity.

Bumper Crop

is an unusually large harvest of a crop, often due to favorable growing conditions.