QUESTION 1 Researchers develop a new seed variety through conventional breeding. The variety will allow small-scale farmers in Africa to achieve higher yields if they add the appropriate levels of other inputs. Carefully study the figure below and answer the questions that follow: Figure 1 Pi/Po .. Output H New Seed Variety E F G Old Seed variety D B C Variable Inputs (like A fertilizer, labor....) Question 1:Question 1: Does this change from the old seed variety to the new seed variety constitute a technology change? O Yes O No QUESTION 2 How does the farmer determine the optimal (profit-maximizing) input quantity for each seed variety? O MPP price ratio (Pi/Po) QUESTION 3 Which letter represents the optimal (profit-maximizing) input quantity with the old seed variety? O A OB OC QUESTION 4 What letter represents the optimal (profit-maximizing) input quantity with the new seed variety? O A O B OCQUESTION 5 What letter represents the output level if a farmer adopts the new seed variety, but uses the optimal input quantity associated with the old seed variety? 0 D O E O F O G O H QUESTION 6 What letter represents the output level if the farmer adopts the new seed variety and uses the level of inputthat is optimal for that variety? 0 D O E O F O G O H QUESTION T What might encourage farmers to adopt new seed varieties with appropriate inputs? Select all that apply. C] Larger availability of seed varieties C] Agricultural extension programs C] Consumer distrust of GMO products C] Access to credit QUESTION 8 In the very short run, if the price of the output doubles and the input prices stays the same, what would a farmer using the old seed variety most likely do? O Buy more inputs and increase the output supply O Buy fewer inputs and decrease the output supply O Maintain the same quantity ofinputs and outputs 0 Switch to the new seed variety QUESTION 9 In the medium run. if the output price doubled. and the input price stayed the same. what would a farmer using the old seed variety most likely do? 0 Buy more inputs and increase the output supply 0 Buy fewer inputs and decrease the output supply 0 Maintain the same quantity ofinputs and outputs 0 Switch to the new seed variety QUESTION 1|]I In the long run, ifthe output price doubled, and the input price stayed the same, what would a farmer using the old seed variety most likely do? O Buy more inputs and increase the output supply O Buy fewer inputs and decrease the output supply 0 Maintain the same quantity ofinputs and outputs Q Switch to the new seed variety