Suppose the demand for good X, an agricultural product, is price-inelastic. This means that small variations in the quantity of X produced will be associated with large variations in the

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When demand is price-inelastic, it means that consumers' demand for a product does not change significantly with a change in price. Therefore, small variations in the quantity of good X produced can lead to large variations in its price, as consumers are willing to pay more or less without significantly changing the quantity demanded.

Suppose the Demand for Good X, an Agricultural Product, Is