Given that the demand for grains is price-inelastic, we would expect that if the harvest of grains increases significantly, other factors constant, then grain farmers' total revenues would increase.

Price-Inelastic

A scenario where the demand for a good or service is relatively unchanged when the price varies.

Total Revenues

The total sum of money received by a company for goods sold or services provided during a certain period.

Grains

Refers to small, hard seeds, especially the seeds of plants such as wheat, corn, oats, barley that are used for food.