The supply of agricultural output is inelastic because:
A) farmers are easily able to swap crops from one type to another.
B) of changes in government farm-support programs.
C) of fluctuations in weather conditions.
D) the presence of large fixed costs do not increase savings from output adjustments.
Correct Answer:
Verified
Q30: Between 1951 and 2001 the number of
Q31: Farms have increased in size for all
Q32: Agricultural prices have not increased as much
Q33: The demand for most agricultural products is:
A)
Q34: Farm incomes tend to be unstable because
Q36: The cobweb theorem:
A) tells farmers how much
Q37: Fluctuations in agricultural prices, according to the
Q38: The cobweb theorem explains why farms prices:
A)
Q39: The cobweb theorem explains why the price
Q40: The cobweb theorem explains why the price
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