The Discovery of a New Hybrid Wheat Would Tend to Increase

question 62

Multiple Choice

The discovery of a new hybrid wheat would tend to increase the supply of wheat.Under what conditions would wheat farmers realise an increase in revenue?

• A)if the supply of wheat is elastic
• B)if the supply of wheat is inelastic
• C)if the demand for wheat is inelastic
• D)if the demand for wheat is elastic

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Definitions:

Subjective Systems

Tools or methods that rely on personal feelings, tastes, or opinions for assessment or decision-making.

Continuum Models

Theoretical models that describe certain properties or behaviors as occurring on a continuous scale, rather than being divided into distinct categories.

Structured Interview

Meeting between a clinician and a client or a client’s associate(s) in which the clinician asks questions that are standardized and are usually designed to determine whether a diagnosis is warranted.

Behavioral Observation

Method for assessing the frequency of a client’s behaviors and the specific situations in which they occur.