Multiple Choice
The inelastic demand for agricultural products means that relatively a small increase in supply will result in a relatively
A) large decrease in farm prices and total revenue for farmers.
B) small increase in farm prices and total revenue for farmers.
C) small decrease in farm prices and a relatively large increase in total revenue for farmers.
D) large increase in farm prices and a relatively small decrease in total revenue for farmers.
Correct Answer:
Verified
Correct Answer:
Verified
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