Multiple Choice
Which of the following is a major justification for public aid to agriculture in the United States?
A) The demand for farm products is income elastic.
B) Technological progress has greatly reduced the demand for farm products.
C) Farmers sell their products in highly imperfect markets and buy resources in highly competitive markets.
D) Farmers are subject to extraordinary hazards that are hard to insure against.
Correct Answer:
Verified
Correct Answer:
Verified
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