Which of the following statements about U.S.agriculture is true as it relates to the past several decades?

A) The demand for farm products has declined,the supply of farm products has increased,and the price of farm products has declined.
B) The demand for farm products has become both more income elastic and more price elastic.
C) Minimum efficient scale has increased,the prices of farm products have declined,and the number of farms has declined.
D) The prices of farm products have increased,minimum efficient scale has declined,and the supply of farm products has been stagnant.

Minimum efficient scale, or the scale at which the production process is most efficient, has increased in U.S. agriculture, leading to consolidation and a decline in the number of farms. This has been accompanied by a decline in the prices of farm products due to oversupply. Therefore, option A and D are incorrect. The demand for farm products has not declined; in fact, it has become more income elastic and more price elastic, meaning that consumers are sensitive to changes in both income and price when it comes to purchasing agricultural products. However, this does not impact the statement that minimum efficient scale has increased and the number of farms has declined, as stated in option C.