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Which of the Following Statements Is True

Question 14

Multiple Choice

Which of the following statements is true?


A) There are more farms today than at the beginning of the 20th century.
B) An individual farmer prefers good weather to bad weather,but farmers as a group may prefer bad weather to good weather,especially if the demand for their products is inelastic.
C) Income elasticity of demand measures the responsiveness of a change in quantity supplied to changes in income.
D) a and b
E) b and c

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