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

question 218

Multiple Choice

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

• A)The supply of wheat would increase and the equilibrium price of wheat would decrease.
• B)The demand for wheat would decrease and the equilibrium price of wheat would decrease.
• C)The demand for wheat would increase because consumers could afford to buy more wheat and corn.
• D)The demand for wheat would decrease and the equilibrium price of wheat would increase.

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Definitions:

Automotive Components

Components and parts that are used in the construction and maintenance of vehicles.

Aggressive Selling

A sales strategy characterized by assertive and sometimes intrusive techniques aimed at persuading customers to buy a product or service.

Salespeople Technology

Technologies and tools designed to enhance the effectiveness and efficiency of sales personnel.

Qualifying Leads

The process of assessing potential clients to determine if they have the need, authority, and resources to purchase a product or service.