An Advance in Farm Technology That Results in an Increased

question 46

Multiple Choice

An advance in farm technology that results in an increased market supply is

• A)good for farmers because it raises prices for their products but bad for consumers because it raises prices consumers pay for food.
• B)bad for farmers because total revenue will fall but good for consumers because prices for food will fall.
• C)good for farmers because it raises prices for their products and also good for consumers because more output is available for consumption.
• D)bad for farmers because total revenue will fall and bad for consumers because farmers will raise the price of food to increase their total revenue.

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Definitions:

Aristotle

An ancient Greek philosopher and polymath whose writings cover many subjects, including physics, biology, ethics, politics, and logic.

Virtue-Based

Pertains to ethical frameworks that emphasize character and virtues in moral evaluation or decision making.

Leader's Character

Leader's Character refers to the moral and ethical qualities and traits of an individual in a leadership position, influencing their decision-making and relationships with followers.

Duty Driven

Motivated by a sense of obligation or responsibility towards certain tasks or principles, regardless of personal gain.