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MMLU-Pro / 6993 / Briefly enumerate two reasons why the supply curves of the farmersare relatively…

Problem

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question

Briefly enumerate two reasons why the supply curves of the farmersare relatively inelastic.

category

economics

options

  1. (a) High price of raw materials. (b) Demand is always high.
  2. (a) Farmers have complete control over price. (b) Costs decrease with increased production.
  3. (a) Farmers are often subsidized by the government. (b) Costs increase with decreased production.
  4. (a) Intensified effort to increase output when price is low. (b) Many costs occur regardless of production quantity.

src

stemez-Economics

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