A Decrease in the Demand for Eggs Caused by Concerns

question 45

Multiple Choice

A decrease in the demand for eggs caused by concerns over cholesterol is most likely attributable to which demand shifter?

• A) income
• B) prices
• C) consumer preferences
• D) prices of other goods

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Definitions:

Population

The entire group of individuals or instances about whom we hope to learn.

Relative Frequency Distribution

A statistical measure that shows the number of occurrences of each value of a variable relative to the total number of occurrences in a dataset.

Mutually Exclusive

Events or outcomes that cannot happen at the same time, meaning the occurrence of one event excludes the possibility of the other event.

Relative Frequency

The ratio of the number of times a particular value or category occurs to the total number of observations.