In Recent Years the Cost of Producing Organic Produce in the U.S

question 389

Multiple Choice

In recent years the cost of producing organic produce in the U.S. has decreased largely due technological advancement. At the same time, more and more Americans prefer organic produce over conventional produce. Which of the following best explains the effect of these events in the organic produce market?

• A) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
• B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
• C) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity.
• D) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.

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Definitions:

Fairer Treatment

Practices or policies aimed at ensuring more equitable and just treatment of individuals or groups, often focusing on reducing disparities and discriminations.

English Colonization

The establishment and expansion of English settlements in North America, the Caribbean, and other parts of the world from the late 16th to early 18th centuries.

Trade with Indians

Historical exchanges of goods and services between European settlers and Native American tribes in North America, which played a crucial role in the economies of both groups.

Cultural Adaptation

The process by which individuals learn the rules and customs of new cultural contexts.