Scenario 14-5 A Study Sponsored by the Food Consumer Safety Board Found

question 402

Multiple Choice

Scenario 14-5
A study sponsored by the Food Consumer Safety Board found that consumption of irradiated tomatoes increased the health of laboratory rats. As a result of national press coverage of the report, the demand for irradiated tomatoes increased dramatically. Organic farmers were able to switch from organic production of tomatoes to irradiated production with no additional cost. Assume that the tomato market satisfies all of the assumptions of perfect competition.
-Refer to Scenario 14-5. As a result of the increase in the demand for tomatoes, we would predict that in the short run that the

• A)production of tomatoes would be at efficient scale.
• B)price of tomatoes would rise.
• C)total cost for existing irradiated tomato producers must rise.
• D)number of firms in the market would fall as prices fall and firms exit the market.

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Definitions:

Excessive Cerumen

The condition of having an overabundance of earwax, which can lead to blockages and hearing issues.

High-Tone Frequency Loss

A hearing impairment where there is a reduced ability to hear or interpret high-pitched sounds, often affecting perception of speech sounds.

Tympanic Membrane

Otherwise known as the eardrum, it is a thin layer that separates the outer ear from the middle ear and vibrates in response to sound waves.

Elasticity

The ability of an object or material to resume its normal shape after being stretched or compressed.