A microecon question... demand?

Logically, only II and IV apply. Income has increased in those 40 years, along with population. Our products are not only needed for our own consumption, but is needed worldwide. The world population has skyrocketed over the last 50 years. With the incredible advances in the higher yield of agriculture along with the technological improvements of handling and processing, agriculture products can be brought to market at prices significantly lower than inflation and yet at a higher profitability for the producers. Therefore, there is price elasticity based on demand and significant technological advances. Hope my answer is correct. Good luck!