Exhibit 3-4 -When Both Supply and Demand Shift Right at the Same

question 41

Multiple Choice

Exhibit 3-4
-When both supply and demand shift right at the same time,

• A)the change in equilibrium price cannot be predicted, but the change in equilibrium quantity can be predicted.
• B)the change in both equilibrium price and equilibrium quantity can be predicted.
• C)the change in equilibrium price can be predicted, but the change in equilibrium quantity cannot be predicted.
• D)neither the change in equilibrium price nor equilibrium quantity can be predicted.
• E)either the equilibrium price or equilibrium quantity will change, but not both.

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Definitions:

Professional Baseball Batting Averages

A statistical measure used in baseball to evaluate a player's batting performance, calculated by dividing a player's hits by their total at-bats.

Normal Curve

The normal curve, also known as the bell curve, is a graphical representation of a normal distribution, where most occurrences take place near the mean, with fewer instances happening as one moves away from the mean.

Correlation

A numerical index reflecting how much two or more variables move in conjunction with one another.

Variables

Variables refer to characteristics or quantities that can vary or change among individuals or over time.