Which of the Following Best Describes the Main Problem Faced

question 124

Multiple Choice

Which of the following best describes the main problem faced by farms in the long run?

• A) Lagging technology has decreased the productivity of farmers and therefore resulted in low farm prices and incomes.
• B) The highly inelastic nature of agricultural demand has caused small year-to-year fluctuations in farm output to result in highly unstable farm incomes.
• C) The supply of farm products has increased relative to the demand for them, and, because demand is inelastic, farm prices and incomes have therefore declined.
• D) The demand for farm products has increased relative to their supply, but the highly elastic nature of agricultural demand has caused these shifts to result in declining farm incomes.

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Definitions:

Performance of Duty

The act of carrying out responsibilities or tasks that are part of one's job or position, often with implications for legal and ethical standards.

Professional Duty

The responsibilities and obligations inherent to a professional role or occupation, requiring adherence to ethical standards and codes of conduct.

Engineer Designs

The process by which engineers create plans and specifications for structures, systems or products, combining scientific principles, creativity, and practicality.

Weight of Traffic

The volume of vehicles moving on a road or transportation network at a given time, which affects congestion and travel time.