What is the effect of inelastic demand for agricultural products on the income of a...
ECONOMICS
JAMB 1997
What is the effect of inelastic demand for agricultural products on the income of a farmer?
- 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
Correct Answer: A. A price rise results in its fall
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