The three-day nonstop untimely heavy rain caused by the cyclonic storm ‘Jawad’ damaged many crops including winter vegetables, potatoes, Aman and Boro paddy in Bangladesh. In your opinion, is this event more likely to hurt paddy growers if the demand for rice is very elastic or very inelastic? Explain graphically.

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Q: elastic

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A: Elasticity of demand depicts how much consumer responds with the change in the price level.

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A: Answer: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…