how does the nature of a commodity influence its price elasticity of demand explain?
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influence coping include education of the head of household, gender of household head being male, farm income, livestock ownership, access to extension for crop and livestock production, farmer-to-farmer extension, temperature, ownership of radio, and better-quality house.
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Nature of commodity: Elasticity of demand of a commodity is influenced by its nature. ... When a commodity is a necessity like food grains, vegetables, medicines, etc., its demand is generally inelastic as it is required for human survival and its demand does not fluctuate much with change in price.
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