What do you understand by the term “own-price elasticity of demand”? Are own-price elasticities of demand positive or negative for typical foods or agricultural products? What is the difference between elastic and inelastic own-price elasticities of demand?
All questions are of equal weight , 100 marks are available in total, and this exam is worth 60 per cent of your final grade. Questions: ANSWER FOUR QUESTIONS FROM QUESTIONS 1-6. 1. “The different emphases of the agricultural economics marketing and the agricultural business marketing traditions could be crudely characterised as follows: ‘to agricultural […]