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Suppose the Development of New Drought-Resistant Hybrid Seed Corn Leads

question 121

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Suppose the development of new drought-resistant hybrid seed corn leads to a 50-percent increase in the average yield per acre without increasing the cost to the farmers who use the new technology. If the conditions in the corn production industry are approximated by the price-taker model, which of the following is most likely to occur?


Definitions:

Theory of Technological Competency

A framework that explains the skills and knowledge required to effectively use and integrate technology in a specific domain.

Objectification

Treating a person or a group of people as an object rather than recognizing their humanity and individuality.

Wholeness

The state of forming a complete and harmonious whole; unity.

Idealization

A psychological or social process of attributing overly positive qualities to another person or thing, often ignoring the possible negative aspects.

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