As a result of advances in productivity, farmers can produce more at a lower cost. The effect of these changes has been to:

Name: As a result of advances in productivity, farmers can produce more at a lower cost. The effect of these changes has been to:
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Question

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Advances in productivity typically lead to an increase in supply, which can lower prices if demand does not increase proportionately. This can reduce total revenue for farmers if the price drop outweighs the increase in quantity sold.

As a Result of Advances in Productivity, Farmers Can Produce