Which of the Following Statements About Agriculture in the U

question 21

Multiple Choice

Which of the following statements about agriculture in the U.S.is correct?

• A)Technological improvements typically increase both supply and revenue for individual farmers.
• B)Technological improvements that increased supply,coupled with inelastic demand for foodstuffs,explain why the number of farmers has decreased dramatically over the last century.
• C)Because technological improvements increase the supply of a product for which demand is inelastic,an individual farmer would be better off not adopting the new technology.
• D)All of the above are correct.

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Definitions:

Customer-facing CRM

Aspects of Customer Relationship Management systems that directly interact with customers, such as sales force automation, customer service, and marketing automation.

Self-serve

A service model that allows customers to serve themselves, often leading to faster service and reduced labor costs for businesses.

NFC

Near Field Communication, a set of communication protocols enabling two electronic devices to establish communication by bringing them within a short distance of each other.

Showrooming Problem

A retail challenge where customers browse products in a physical store only to buy them later online at a lower price, affecting the store's sales.