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snowicefox17 snowicefox17
wrote...
Posts: 524
5 years ago

Question 1.

The demand for most farm products is relatively inelastic. A drought that reduces the supply of farm products will also cause farm revenues to fall.

• true

• false

Question 2.

Most food products have low income and price elasticities of demand.

• true

• false
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 40 times
2 Replies

Related Topics

Replies
wrote...
5 years ago

Answer 1

false

Answer 2

true
snowicefox17 Author
wrote...
5 years ago
Thanks
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