Microeconomic Case Study on Agriculture

... Farmers tend to stay in agriculture as long as they can, but even when financial trouble forces them to leave, another farmer usually takes over the land and keeps it in production. ... There is no shift in agriculture, supply declines very little even when prices for major grains drop by nearly one-half. ... The environment for agriculture can be very volatile. ... Of course, when agriculture supplies become low the prices go up dramatically.

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