Problem
According to Agcaoli-Sombilla (1991), the elasticity of demand for rice is -0.47 in Austria; -0.8 in Bangladesh, China, India, Indonesia, and Thailand; -0.25 in Japan; -0.55 in the European Union and the United States; and -0.15 in Vietnam. In which countries is the demand for rice inelastic? In which country is it the least elastic?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.