If an Early Frost Destroys Most of the Apple Crop

question 63

Multiple Choice

If an early frost destroys most of the apple crop, the equilibrium price of an apple ________ and the equilibrium quantity ________.

• A) rises; increases
• B) falls; increases
• C) rises; decreases
• D) falls; decreases
• E) does not change; decreases

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Definitions:

Chi-square Statistic

A number that tells us how much the observed counts in a statistical test differ from the counts we would expect if there were no relationship in the population.

P-value

The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

Null Hypothesis

A statement in statistical analysis that implies no effect or no difference, and serves as the starting assumption for testing.

College Location

The geographical setting or campus where a college or university is situated, which can influence campus life and opportunities.