FIGURE 3-3 Refer to Figure 3-3

question 120

Multiple Choice

FIGURE 3-3 Refer to Figure 3-3.At a price of P₃ there is excess ________ in the market for X and pressure for the price to ________.

• A)supply; fall
• B)supply; rise
• C)demand; fall
• D)demand; rise

---

Definitions:

Matched Pairs

A study design in which each subject is paired with a similar subject, usually to control for certain variables.

Independent Samples

Two or more groups of data that are not related or do not influence each other, often used in comparative experiments.

Nonrandom Samples

Nonrandom samples are samples that are not selected using random methods, which may result in a biased representation of the overall population.

Alternative Hypothesis

It proposes that there is a statistically significant relationship between variables, opposing the null hypothesis.