If the Price Elasticity of Demand for Food Is Low,an

question 47

Multiple Choice

If the price elasticity of demand for food is low,an increase in supply due to an improvement in technology will result in a ________ price and ________ in total revenue.

• A)higher;a decrease
• B)lower;an increase
• C)higher;an increase
• D)lower;a decrease

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Definitions:

Removable Storage

Portable devices or media that allow users to transfer data between computers without requiring a permanent connection.

Digital Data

Information stored in a digital format, utilizing binary code of ones and zeroes, allowing for efficient storage, processing, and transmission.

Collaboration

The act of working together with others to complete a task or achieve a common goal.

Organization

The act of structuring or arranging parts or elements of something cohesively, often to achieve specific goals or purposes.