A Shift to the Left of a Supply Curve Is

question 48

Multiple Choice

A shift to the left of a supply curve is caused by:

• A)an increase in the number of sellers.
• B)a technological improvement in production.
• C)an increase in the cost of an input.
• D)an increase in the number of buyers.

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Definitions:

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution, aiming to provide an accurate description of the entire data set.

Median

The middle value in a data set, which divides the set into two equal halves, with an equal number of data points above and below it.

Mode

The value that appears most frequently in a data set. A mode can be used as a measure of central tendency, especially for categorical data.

Histogram

A type of graph that represents the distribution of numerical data by showing the number of data points that fall into various ranges or bins.