The demand for agricultural products is Group of answer choices relatively elastic with respect to price. a. relatively inelasti
c with respect to price. b. relatively elastic with respect to income. c. relatively elastic wth respect to price.d. downsloping to the individual farmer but perfectly elastic to farmers as a group.
The correct option for the question is "C," "relatively elastic with respect to price."
Explanation:
The demand for agricultural products is relatively elastic with respect to price. <em>It depicts that more agricultural produce will be demanded by housholds when the prices are low and less of these produce will be demanded if the prices are high.</em>
