Over Time, Technological Change Has

question 178

Multiple Choice

Over time, technological change has

• A) reduced both the price elasticity and income elasticity of the demand for farm products.
• B) reduced the minimum efficient scale of production in agriculture and increased the prices of farm products.
• C) increased both price elasticity and income elasticity of the demand for farm products.
• D) increased the minimum efficient scale of production in agriculture and reduced the prices of farm products.

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Definitions:

Y-Intercepts

The points where a line or curve intersects the y-axis on a graph.

X-Intercepts

The points where a graph intersects the x-axis, representing the values of x when the function or equation equals zero.

Graph

An illustration showing the web of interactions or relationships between multiple elements using unique markers such as dots, lines, and bars.

Perpendicular

Lines or planes that intersect at a right angle (90 degrees).