The good/bad paradox in agriculture:?

Question

a) means that when farmers produce a good harvest, their incomes go up.

b) exists because demand has increased more than supply over time.

c) occurs whenever supply increases in the elastic portion of the demand curve.

d) exists because the demand for agricultural products is relatively inelastic.

Answer 1

I'd say A

Answer 2

d) Produce more and the price could go down,

    (an if I catch you, you'll go down)

Answer 3

To me the real paradox is the fact that the production costs of agriculture and the price at the market are not linked.  

For example, in any other market (let's say cars) when the cost of materials goes up (steel) the price the consumer pays will also go up.  The manufacturer does this to cover their increased expenses and maintain their profit margin.  

In agriculture, a spike in the cost of oil means higher fuel, fertilizer, and transportation costs.  At the end of the season, the farmer hauls the crop to the market and gets what the market will give him.  If corn is $1.55 a bushel, that's what he gets despite the fact that it cost him $1.65 a bushel to produce it.  This example is not going to as strong of an influence in locally produced and marketed segments of agriculture (Farmer's Markets, etc.).

Answer 4

I would say none of the above.

The paradox is when the harvest is good but the income is lower.  

This occur when the supply exceeds the demand (in a free economy at least)