What is the effect of inelastic demand for agricultural products on the income o...
Question
What is the effect of inelastic demand for agricultural products on the income of a farmer?Options
A)
A price rise results in its fall
B)
A price fall results in its fall
C)
A price fall results in its rise
D)
A price rise leaves the income unchanged
Related Lesson: Determinants of Price Elasticity of Supply | Theory of Supply
The correct answer is A.
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