Multiple Choice
Which of the following statements about agriculture in the United States is correct?
A) From the 1950s to today, agricultural output has approximately doubled.
B) 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.
C) Increasing the supply of agricultural products typically benefits consumers but harms farmers as a group.
D) Technological improvements typically increase both supply and revenue for individual farmers.
Correct Answer:
Verified
Correct Answer:
Verified
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