A Factor Demand Curve Will Shift to the Left Because

question 159

Multiple Choice

A factor demand curve will shift to the left because of:

• A)an increase in the price of the factor.
• B)an increase in the price of the good the factor produces.
• C)a decrease in the price of the factor.
• D)a decrease in the price of the good the factor produces.

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Definitions:

Statistically Significant

Refers to a result that is unlikely to have occurred by chance alone, according to a predefined significance level, often indicating a strong evidence against the null hypothesis.

Hypotheses

Plural of hypothesis; propositions or assumptions made for the sake of argument that are tested through research or experimentation to be proven or disproven.

Z Statistic

The Z statistic is a measure used in statistics to describe the distance in standard deviations a data point is from the mean of a data set.

Hypotheses

Predetermined statements or propositions that are tested through scientific methods to see if they hold true under specific conditions.