Which of the Following Statements About U

Multiple Choice

Which of the following statements about U.S. agriculture is true as it relates to the past several decades?

A) The demand for farm products has declined, the supply of farm products has increased, and the price of farm products has declined.
B) The demand for farm products has become both more income elastic and more price elastic.
C) Minimum efficient scale has increased, the prices of farm products have declined, and the number of farms has declined.
D) The prices of farm products have increased, minimum efficient scale has declined, and the supply of farm products has been stagnant.