Q. Characterize demands for the following goods as being near perfectly elastic or near perfectly inelastic. how do you characterize corn grown and harvested by a small farmer in Iowa?
Q. It is very difficult to find goods with perfectly elastic or perfectly inelastic demand. We, however, find out goods that lie near these extremes. Characterize demands for the following goods as being near perfectly elastic or near perfectly inelastic. How do we characterize corn grown and harvested by a small farmer in Iowa?