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

question 121

Multiple Choice

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?

• A) The price of corn will increase.
• B) The price of soybeans (a substitute for corn) will increase.
• C) The profits of corn farmers who quickly adopt the new technology will increase.
• D) The profits of corn farmers who do not adopt the new technology will increase.

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Definitions:

Complex Stimuli

Environmental or sensory inputs that involve multiple components and are more complicated to process than simple stimuli.

Dorsal Stream Damage

Damage to a pathway in the brain that processes spatial awareness and the movement of objects, leading to difficulties in visual localization.

Agnosia

A neurologic condition characterized by the inability to recognize and identify objects or persons, despite having intact sensory functions.

Carbon-monoxide Poisoning

A toxic condition that occurs from inhaling carbon monoxide gas, which can prevent the blood from carrying oxygen to cells, tissues, and organs.