Which of the Following Events Would Cause a Change in the Quantity

question 52

Multiple Choice

Which of the following events would cause a change in the quantity supplied of some agricultural commodity but would not cause a change in the supply of that same commodity?

• A)a change in factor costs
• B)a technological change
• C)a change in the price of the commodity
• D)a change in the number of suppliers of the commodity
• E)a change in the price of substitute goods

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength of the relationship between two variables.

Independent Variable

A variable in scientific research that is manipulated or changed to observe its effect on a dependent variable.

Continuous

Refers to data or a variable that can take on any value within a given range, not restricted to discrete values.

Scatterplot

A type of graph used in statistics to display values for two variables for a set of data, revealing any correlational patterns.