Multiple Choice
What is the reason why large, short-run declines in farm prices do not significantly reduce farm production in the short run?
A) Farmers' variable costs are high compared with their fixed costs.
B) Farmers' fixed costs are high compared with their variable costs.
C) Farmers' prices received are greater than prices paid for agricultural products.
D) Farmers' prices paid are greater than prices received for agricultural products.
Correct Answer:
Verified
Correct Answer:
Verified
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