Examlex

Solved

Suppose a Negative Technological Change in the Production of Disease-Resistant

question 181

Multiple Choice

Suppose a negative technological change in the production of disease-resistant wheat caused the price of wheat to rise.Holding everything else constant, how would this affect the market for corn (a substitute for wheat) ?


Definitions:

Barest Essentials

The most basic and fundamental components or requirements needed for something.

Goodwill

The intangible asset that arises as a result of the acquisition of one company by another for a premium value, representing factors like reputation, brand, and customer relations.

Survival

The ability of an entity, whether an individual, business, or species, to continue existence and maintain its functions in its environment.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities, aiming to generate profits.

Related Questions