If the Demand Curve for Bikes Shifts Leftward and the Supply

question 259

Multiple Choice

If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the equilibrium

• A) price of bikes definitely increases.
• B) quantity of bikes definitely decreases.
• C) quantity of bikes definitely increases.
• D) price of bikes definitely decreases.

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Definitions:

Main Effect

In statistical analysis, the direct impact of an independent variable on a dependent variable, disregarding the influences of or interactions with other variables.

Reject

In statistics, to refuse the null hypothesis based on evidence from sample data meeting a predetermined significance level.

Interaction Effect

In statistics, the effect that an independent variable has on the outcome variable depends on or varies according to the levels of one or more other independent variables.

F-Ratio

A statistical value used to compare variances in ANOVA tests, determining if there are significant differences between group means.