If the Price of Oil, a Close Substitute for Coal

question 21

Multiple Choice

If the price of oil, a close substitute for coal, increases then the

• A)supply curve for coal will shift to the right.
• B)demand curve for coal will shift to the right.
• C)equilibrium price and quantity of coal will not change.
• D)demand curve for coal will shift to the left.
• E)supply curve of coal will shift to the left.

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Definitions:

Off-Campus

Refers to activities, housing, or facilities that are not situated on the main campus of an educational institution.

T-Distribution

The T-distribution, or Student's t-distribution, is a probability distribution that estimates the population parameters when the sample size is small and the population standard deviation is unknown.

T Distribution

A statistical curve that shows the standard deviations of samples taken from a population and is used when the population standard deviation is unknown and the sample size is small.

Standard Normal Distribution

A normal distribution with a mean of zero and a standard deviation of one.