Any Change That Shifts the Supply Curve Outward to the Right

question 166

True/False

Any change that shifts the supply curve outward to the right, and does not affect ​the demand durve will lower the equilibrium price and raise the equilibrium.

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Definitions:

Independent Variable

A variable that is intentionally changed by the researcher to examine its impact on the dependent variable.

Type I Error

A statistical error that occurs when a true null hypothesis is incorrectly rejected, falsely indicating a significant effect.

Type II Error

The mistake of failing to reject a null hypothesis when it is actually false, leading to a false negative conclusion.

Statistical Tests

Procedures used in statistics to determine whether hypotheses about the distribution of data can be rejected, based on sample data.