If the demand for a product is INELASTIC, the quantity consumed will: fall by less than one percent when the price falls by one percent increase by more than one percent when the price rises by one percent increase by less than one percent when the price falls by one percent O fall by more than one percent when the price increases by one percent D Question 22 2 pts Which of the following is most true? Corporations like Monsanto, PepsiCo, and Hershey produce most of America's food crops Family farms are defined as less than 100 acres The country's largest farms are pig ranches in Montana The largest farms produce most of America's farm output Question 23 2 pts Which group captures the least amount of each dollar Americans spend on food? retailers & food service farmers bankers food processors D Question 24 2 pts The food system works because of the existence and operation of Immigrant labor Markets Grocery wholesalers Large machinery Question 25 2 pts Why does the demand curve slope downward? because a chicken-and-a-half CAN lay an egg-and-a-half in a day-and-a-half As supply is used up, there is less available so consumers demand less The cheaper the price th consumers will buy Consumers are unpredictable