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The price elasticity of supply for agricultural products is generally:
  • a)
    Highly elastic
  • b)
    Highly inelastic
  • c)
    Unit elastic
  • d)
    Perfectly elastic
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The price elasticity of supply for agricultural products is generally:...
The price elasticity of supply for agricultural products is generally highly inelastic due to factors such as seasonal variations and limited short-term supply adjustments.
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The price elasticity of supply for agricultural products is generally:a)Highly elasticb)Highly inelasticc)Unit elasticd)Perfectly elasticCorrect answer is option 'B'. Can you explain this answer?
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