An Increase in Supply Is Caused By

question 67

Multiple Choice

An increase in supply is caused by:

• A) an increase in resource prices.
• B) a decrease in the number of sellers in the market.
• C) suppliers' expectations of higher prices in the future.
• D) an advancement in the technology for producing the good.

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Definitions:

Standard Deviation

Standard deviation is a measure of the amount of variation or dispersion in a set of values, indicating how much the values in a dataset deviate from the mean.

Raw Scores

The initial, unadjusted scores obtained directly from a test or assessment.

Test-retest Reliability

A measure of consistency where the same test is administered to the same group at two different points in time to assess the consistency of the results.

National Curve Equivalent

A standardized score that represents a student's relative rank on a national scale.