If the demand for agricultural products is inelastic: as the price increases, the revenues earned by producers
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Question:
If the demand for agricultural products is inelastic:
- "as the price increases, the revenues earned by producers increase;"
- "as the prices decrease, the revenues earned by producers decrease;"
- rising prices do not lead to differentiation in producers' incomes;
- the percentage decrease in prices is lower than the percentage increase in demand
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