A Technological Improvement Lowers the Cost of Producing Corn

question 75

Multiple Choice

A technological improvement lowers the cost of producing corn.As a result,the price of a pound of corn ________ and the quantity of corn ________.

• A) rises; increases
• B) rises; decreases
• C) falls; increases
• D) falls; decreases
• E) falls; does not change

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Definitions:

Normal Model

A statistical model, also known as the normal distribution or Gaussian distribution, characterized by a bell-shaped curve symmetrical about its mean.

Jelly Beans

Small, bean-shaped sugar candies with various flavors and colors.

Proportion

A part, share, or number considered in comparative relation to a whole, often expressed as a fraction or percentage.

Fair 6-sided Dice

A cube-shaped object with each of its six faces showing a different number of dots from 1 to 6, used in games of chance to ensure an equal probability of landing on any face when thrown.