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Reported Question / Answer
Q.) Over the long-run, the number of farm households has declined in part because:
1)
the demand for farm products is price-elastic
2)
farm productivity has increased at a much slower pace than in the manufacturing and service sectors
3)
the demand for farm products is inelastic with respect to both price and income
4)
government policies have resulted in chronic shortages in critical markets
5)
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Answer :
3
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