(Figure: Price and Quantity IX) What Could Have Caused the Supply

question 46

Multiple Choice

(Figure: Price and Quantity IX) What could have caused the supply and average variable cost curves to shift outward?

• A) a decrease in average fixed costs
• B) a decrease in wages
• C) an increase in input prices
• D) an increase in rental payments or property taxes

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Definitions:

Dependent Variable

The variable in an experiment or study that is expected to change as a result of manipulations of the independent variable.

Coefficient of Determination

A measure used in statistical models that defines the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Coefficient of Correlation

A statistical measure that calculates the strength and direction of the relationship between two variables or data sets.

Numerical Value

A measurable quantity represented by a number, often used to quantify an attribute or parameter in scientific and mathematical contexts.