A Decrease in the Demand for Soft Drinks Due to Changes

question 92

Multiple Choice

A decrease in the demand for soft drinks due to changes in consumer tastes, accompanied by an increase in the supply of soft drinks as a result of reductions in input prices, will result in

• A)a decrease in the equilibrium quantity of soft drinks and no change in the equilibrium price.
• B)a decrease in the equilibrium price of soft drinks and no change in the equilibrium quantity.
• C)a decrease in the equilibrium price of soft drinks; the equilibrium quantity may increase or decrease.
• D)an increase in the equilibrium quantity of soft drinks; the equilibrium price may increase or decrease.

Grasp the global consequences of climate change.

Understand the environmental hazards caused by plastic pollution in oceans.

Learn about biodiversity hot spots and their significance.

Comprehend the current state and causes of mass extinctions.

---

Definitions:

Unemployment Rate

The percentage of job-seekers within the labor force who do not currently have employment.

Random Sample

A subset of individuals chosen from a larger set, where each individual has an equal probability of being chosen.

Statistics Canada

The national statistical office of Canada, responsible for producing statistics to help understand Canada's population, resources, economy, society, and culture.

Alpha

Often referred to as alpha level or significance level, it represents the threshold of probability at which null hypotheses are rejected in statistical testing.