18. Suppose that a 10 percent decrease in the price of normal good Y causes a 30 percent decline in the quantity demanded of normal good X. The cross elasticity of demand is: A) B) negative and therefore these goods are substitutes negative and therefore these goods are complements. positive and therefore these goods are substitutes. positive and therefore these goods are complements. positive and therefore these goods are luxury. D E) 19. Which of the followings is NOT one of secrets contributes to the success of U.S. agribusiness? A) Continuous adaptation and adaptation of technological progress to improve the technical efficiency B) Advancement of agribusiness management skills and techniques to improve the economic efficiency C) International trade, globalization and development of cross border communication and commerce. D) Government supports financial subsidies and tax deductible and deductible benefits E) Absolute advantages in the endowments of natural resources, weather and geographic advantages. 20. Which of the following statements is NOT correct? A) Food manufacturers are agribusiness firms that buy agricultural commodities from the producers for processing into food products. B) Producers are firms that purchase items from input suppliers and produce agricultural commodities. C) Food distributors are firms that transport agricultural commodities and food products between different parts of agri-food system. D) Input suppliers are firms that prepare and sell things like feed, seed, fertilizer, and credit to farmers and ranchers. E) All of the above are correct. Section II Short Answer questions. (Total 40 points) (Note: Please show all necessary steps; otherwise you will only earn 50% of the total marks) Q1. (1) What is a limited liability company? How does it differ from a registered limited liability partnership? (4 points) (2) Identify and briefly describe at least three factors that need to be considered when choosing a business's legal structure? (3 points)