The Supply Curve for a Good Will Shift to the Left

question 100

Multiple Choice

The supply curve for a good will shift to the left if:

• A) the price of a substitute good falls.
• B) a new technology improves the ?rm's productivity.
• C) new ?rms enter the market.
• D) the cost of inputs increases.

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Definitions:

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically utilized in the context of hypothesis testing.

F Statistic

A ratio used in statistical analysis to determine the degree of variance between groups in an experiment, often used in the context of an ANOVA test to assess hypothesis validity.

Groups

Collections of subjects, samples, or items that are studied in experiments to assess the effects of treatments or to compare different conditions.

ANOVA Procedures

Statistical analysis techniques used to determine if there are any statistically significant differences between the means of three or more independent (unrelated) groups.