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  3. question 1 15 pts the farmlevel derived demand for inputs...

Question: question 1 15 pts the farmlevel derived demand for inputs...

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Question 1 1.5 pts The farm-level derived demand for inputs used in production are usually Tim Atter 0 M More price elastic than the retail-level demand. Less price elastic than the retail-level demand. Just as price elastic as the retail-level demand Not enough information to say D Question 2 1.5 pts The flexibility can be written as: The income elasticity of a product. The inverse of a sensitivity. The inverse of a price elasticity. The cross price elasticity of a productD Question 3 1.5 pts The cross price elasticity of complements is Greater than 1 Between 0 and 1 Positive Negative D Question 4 1.5 pts The demand for perishable food products is usually More price elastic than non-perishable food products. Less price elastic than non-perishable food products More income elastic than non-perishable food products. Less income elastic than non-perishable products

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