If the Number of Consumers in a Market Increases, the Market

question 70

Multiple Choice

If the number of consumers in a market increases, the market demand curve will

• A) decrease, which is a shift to the left of the demand curve.
• B) increase, which is a shift to the right of the demand curve.
• C) not shift, but rather this will just cause a movement along the demand curve.
• D) do none of the above.

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Definitions:

Total Variation

The overall measure of variability or spread in a dataset.

Predictor Variables

Variables that are used in statistical models to predict or explain changes in the dependent variable.

Regression Parameters

Quantitative values in a regression equation that represent the relationship between the independent variable and the dependent variable.

Y-intercept

The y-intercept is the point where a line or curve intersects the y-axis of a coordinate system, representing the value of the dependent variable when the independent variable is zero.