Supply of agricultural products is likely to be elastic in the

The supply of agricultural products is likely to be elastic in the long-run. This means that the quantity supplied of agricultural products can change significantly in response to changes in price over a longer period of time. In the long-run, farmers are able to make changes to their operations such as planting different crops, acquiring new technologies, or changing the size of their farms. These changes can result in a significant increase or decrease in the quantity of agricultural products supplied. On the other hand, the supply of agricultural products is likely to be inelastic in the short-run, as farmers may not be able to quickly adjust their operations to changes in price. This is because it takes time to make changes to agricultural operations, such as planting new crops or acquiring new technologies.