In the last three decades of the 19th century, the long-run supply tra

In the last three decades of the 19th century, the long-run supply track of farm prices

(a) indicates a decline in farm prices due to a slowly increasing demand and a more rapidly increasing supply.
(b) indicates a decline in farm prices due to a slowly increasing supply and a more rapidly increasing demand.
(c) indicates an increase in farm prices due to a slowly increasing supply and a more rapidly increasing demand.
(d) indicates relatively constant prices due to the fact that supply and demand were both increasing
at about the same rate.

ANSWER

(a)