Once the Demand Curve for a Product or Service Is

question 112

Multiple Choice

Once the demand curve for a product or service is drawn,it

• A)remains stable over time.
• B)can shift either rightward or leftward.
• C)is possible to move along the curve,but the curve will not shift.
• D)tends to become steeper over time.

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Definitions:

Independent Variable

An independent variable is a variable that is manipulated or categorically separated in an experiment to observe its effect on a dependent variable.

Regression Line

A line of best fit through a scatter plot of data points that shows the relationship between independent and dependent variables in regression analysis.

Sum of Squares

A statistical technique used to describe the total variation in a dataset.

Regression

A statistical approach for modeling how a dependent variable is related to one or more independent variables.