How Will a Decrease in Price Tend to Affect Supply

question 255

Multiple Choice

How will a decrease in price tend to affect supply?

• A)Supply will increase.
• B)Supply will decrease.
• C)Supply will not change.
• D)Uncertain.

---

Definitions:

Slope

In mathematics, the slope defines the steepness and direction of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Multiple Correlation

A mathematical method used to evaluate how strong the association is between one dependent variable and multiple independent variables.

Criterion Variables

The dependent variables in an experiment or study that are affected by other variables and are used to evaluate outcomes.

Predictor Variable

Variable in a correlational research study used to predict a criterion variable.