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Why is price elasticity of supply inelastic for farmer goods in short term?

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Huzeipha
 
Reply Sat 19 Nov, 2016 09:08 am
Why are farm goods relatively inelastic in the short term.

https://en.wikipedia.org/wiki/Price_elasticity_of_supply

Which of the determinants prove that farm goods relatively inelastic and how?

Also does droughts or food crises suggest that goods are more inelastic?
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Type: Question • Score: 2 • Views: 198 • Replies: 3
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cicerone imposter
 
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Reply Sat 19 Nov, 2016 04:54 pm
@Huzeipha,
It's the fundamental law of supply and demand.
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TomTomBinks
 
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Reply Sat 19 Nov, 2016 05:00 pm
@Huzeipha,
Timing.
If by farmer goods you mean equipment; crops have to be planted or harvested or tended within a narrow window of time. Price is not a hindrance if your crop is ready and your harvester is shot.
cicerone imposter
 
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Reply Sat 19 Nov, 2016 05:05 pm
@TomTomBinks,
Here's some interesting information on farming.
https://www.quora.com/Why-do-farmers-not-make-much-money
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