Purchase Solution

Why do Farmers have a Relatively Inelastic Demand

Not what you're looking for?

Ask Custom Question

Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest). Will farmers be happy or sad about the news there has been an unusually large amount of their crop produced this year? Why?

Purchase this Solution

Solution Summary

Assess the inelastic demand in the case.

Solution Preview

So the demand is pretty inelastic. This means a change in price or quantity is not associated with much of a change in demand. As ...

Purchase this Solution


Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.