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Agricultural and home use are inelastic, but irrigation of suburbs and similar luxury uses are not.
by api 12y ago
Agricultural and home use are inelastic, but irrigation of suburbs and similar luxury uses are not.
- ars 12y agoIrrigation of lawns is a tiny percentage. Agriculture is definitely elastic! If water prices go up, they just plant less. Then people in other places grow food instead. It's a slow change, but it's certainly elastic.