Exhibit 3-5 Supply for Tucker's Cola Data Exhibit 3-5 Shows the Supply Schedule for Tucker's Cola

question 28

Multiple Choice

Exhibit 3-5 Supply for Tucker's Cola Data $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Quantity supplied per week } \\\text { (millions of gallons) }\end{array} & \begin{array} { c } \text { Price per } \\\text { gallon }\end{array} \\\hline 6 & \$ 3.00 \\5 & 2.50 \\4 & 2.00 \\3 & 1.50 \\2 & 1.00 \\1 & .50 \\\hline\end{array}$$ Exhibit 3-5 shows the supply schedule for Tucker's Cola. If Tucker's Cola and Refresh Cola are the only two suppliers in the cola market and Refresh Cola is willing to sell 5 million gallons when the price is $3.00, 4 million gallons when the price is $2.50, 3 million gallons when the price is $2.00, 2 million gallons when the price is $1.50, 1 million gallons when the price is $1.00, and 0 gallons when the price is $0.50 or less,

• A) the market quantity supplied of cola will be 7 million gallons when the price is $2.00.
• B) Tucker's Cola follows the law of supply, but Refresh Cola does not.
• C) the market quantity supplied of cola is decreasing as price increases.
• D) the market supply curve is horizontal.

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Definitions:

One-way ANOVA

A statistical test that compares the means of three or more independent groups to determine if there are any statistically significant differences between them.

Treatments

Different conditions or interventions applied to subjects in an experiment to determine their impact.

Rejection Region

The range of values for which the null hypothesis is considered not probable, leading to its rejection in favor of the alternative hypothesis.

Experimental Plan

A detailed strategy designed to test a hypothesis in a controlled environment.