Question

The demand for agricultural products is Group of answer choices relatively elastic with respect to price. a. relatively inelastic 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.

Answer 1

Answer:

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. 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.