Answer:
A. The demand of wheat and corn is basically inelastic and so increases in output drastically reduce price and income to the farmers.
Explanation:
Inelastic demand means the change in price does not affect the purchasers' buying power. The difference in price has relatively little effect on the quantity demanded. Â Since the demand for wheat is inelastic, price and income will reduce irrespective of increasing production. Therefore, harvesting massive production (wheat or corn) does not bring a high income.