As Described in the Text, Which of the Following Statements

question 80

Multiple Choice

As described in the text, which of the following statements best describes the the strategy of many potato growers since 2005 ?

• A) Growers have worked together to reduce supply and stabilize demand. As a result, equilibrium price has been propped up and allowed farmers to earn what they consider a decent profit.
• B) Growers have continued to compete vigorously with each other, causing prices and profits to decrease.
• C) Growers have restricted supply so much that there is now a severe shortage of potatoes in the United States.
• D) because efforts by potato growers to restrict supply are illegal in the United States, they have focused exclusively on increasing demand to increase their profits.

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Definitions:

Cultural Adaptation

The process whereby individuals adjust and become accustomed to the norms, values, and behaviors of a new culture or society.

Explore

To investigate, study, or analyze with the intention of discovering new information or understanding something more thoroughly.

Cultural Adaptation

The adjustment process individuals undergo to integrate with or accommodate themselves to different cultural practices and settings.

Business Practices

Customary methods or procedures in the conduct of business activities.