​If the Supply Curve Decreases While the Demand Curve Remains

question 133

True/False

​If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would decrease.

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Definitions:

Alternative Hypothesis

The hypothesis that states there is a statistically significant relationship between variables, contrasting the null hypothesis.

Directional

Pertains to specifying the direction of an effect or relationship in hypotheses or experimental research.

Non-directional

Hypotheses that predict a relationship between variables without specifying the direction of the relationship.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists.