Because Farm Products Have a Low Elasticity of Demand,a Small

question 61

Multiple Choice

Because farm products have a low elasticity of demand,a small change in output will have

• A)An indeterminate effect on price.
• B)No effect on price.
• C)A smaller effect on price.
• D)A larger effect on price.

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Definitions:

Narrow Range

A limited or confined scope or extent, often referring to variations or fluctuations within a restricted interval.

Loud

Loud describes a sound that has a high volume or intensity, often capable of causing a noticeable reaction or discomfort in listeners.

dB

A unit of measurement that indicates the relative loudness of sounds in terms of the logarithmic scale, with higher numbers representing louder sounds.

Amplitude

Stimulus intensity; in audition, roughly equivalent to loudness, graphed by the increasing height of a sound wave.