Use the Following to Answer Questions

question 166

Multiple Choice

Use the following to answer questions .
Exhibit: Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market, the change in supply may have resulted from:

• A) wage increases for the workers.
• B) an improvement in technology.
• C) a decrease in the number of sellers.
• D) all of the above.

---

Definitions:

Control Chart

A statistical tool used in quality control processes to monitor and control a process variable over time, identifying trends, shifts, or outliers.

Operating Characteristics Curve

A graphical representation showing the relationship between the capacity of a system or process and one or more of its operating parameters.

Acceptance Sampling

A statistical quality control method where a random sample is tested from a lot, and the lot is accepted or rejected based on the results.