The Following Question Are Based on the Following Graph

question 68

Multiple Choice

The following question are based on the following graph. The curves D and S represent the market demand and supply curves for farm products in 1960. The curves D₁ and S₁ represent the market demand and supply curves for farm products in 2000. It is supposed that there were no support programs in either year.

-The steepness of the two demand curves can best be explained by the fact that

• A) the quantity of food demanded does not vary much with the price of food because food is a necessity.
• B) the consumption of food per capita faces natural limits and hence responds by only a small amount to changes in per capita income.
• C) farmers have only limited control over their outputs.
• D) there has been rapid technological change in agriculture.
• E) poor farmers have been slow to leave the farming industry.

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