Scientists Have Developed a Bacterium They Believe Will Lower the Freezing

question 50

Multiple Choice

Scientists have developed a bacterium they believe will lower the freezing point of agricultural products.This innovation could save farmers $1 billion a year in crops now lost to frost damage.If this technology becomes widely used,what will happen to the equilibrium price and quantity in,for example,the potato market?

• A)price will decrease,quantity will decrease
• B)price will decrease,quantity will increase
• C)price will increase,quantity will decrease
• D)price will increase,quantity will increase
• E)The change in equilibrium price and quantity is indeterminate.

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Definitions:

Seller's Ownership

The legal right of a seller to dispose of goods or property, affirming they have title to the items they are selling.

Accidental Sale

A transaction where goods or property are sold without the seller's intentional consent, often due to a mistake or misunderstanding.

Good-Faith Purchaser

An individual who buys property without knowledge of any existing claims or defects against it, thereby gaining legal protection.

Goods-In-Bailment Contract

An agreement involving the temporary transfer of personal property to another party for a specific purpose.