The AFC Curve Shifts Upward If

question 80

Multiple Choice

The AFC curve shifts upward if

• A)factor prices rise.
• B)a new technology is introduced.
• C)more workers are hired.
• D)all of the above
• E)none of the above

---

Definitions:

Outliers

Data points that significantly deviate from the other observations in a dataset, potentially indicating measurement error or an unusual event.

Statistical Procedure

A standard process or series of operations in statistics used for collecting, organizing, summarizing, and analyzing data to draw conclusions or make predictions.

Average Prices

The mean cost calculated by dividing the total sum of all prices by the number of prices in the dataset.

Supermarkets

Large retail market places typically offering a wide variety of goods including food, clothing, and household items.