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Question
The supply of agricultural products is generally ________.
The supply of agricultural products is generally ________.
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Solution
The correct option is A inelastic
The supply of agricultural products is generally inelastic that means proportionate change in quantity demand is lesser than the proportionate change in price as agricultural products are necessities since it provides basic subsistence to people.
The supply of agricultural products is generally inelastic that means proportionate change in quantity demand is lesser than the proportionate change in price as agricultural products are necessities since it provides basic subsistence to people.
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