Which of the Following Statements Best Describes the Demand for Agricultural

question 76

Multiple Choice

Which of the following statements best describes the demand for agricultural commodities?

• A)It takes a small decline in price to induce a large increase in the amount of agricultural products demanded.
• B)The marginal utility of additional units of agricultural output diminishes very rapidly.
• C)Small increases in income cause demand to increase by a proportionately larger amount.
• D)When price declines, the resulting substitution effect is very large.

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