Over the Next Decade, Probable Trends Include All of the Following

question 7

Multiple Choice

Over the next decade, probable trends include all of the following EXCEPT

• A)increased ethnic foods.
• B)fewer safety regulations.
• C)more healthy foods.
• D)more convenience.

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Definitions:

Competitive Buyer

A buyer in a market who cannot influence the market price and takes the price as given.

Marginal Expenditure

The rise in expense from obtaining one more unit of a good or service.

Average Expenditure

The total spending divided by the number of units bought, used to calculate the average cost of goods or services.

Rent Seeking

Spending money in socially unproductive efforts to acquire, maintain, or exercise monopoly.