If Workers Who Make DVDs Get a Pay Raise, the Equilibrium

question 497

Multiple Choice

If workers who make DVDs get a pay raise, the equilibrium price of a DVD ________ and the equilibrium quantity of DVDs ________.

• A) rises; increases
• B) rises; decreases
• C) falls; decreases
• D) falls; increases

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Definitions:

Null Hypothesis

A hypothesis that assumes no significant difference or relationship exists in the population from which a sample is drawn.

Multiple Regression Equation

A statistical technique that models the relationship between a dependent variable and two or more independent variables by fitting a linear equation to observed data.

Regression Coefficients

Regression coefficients are values that quantify the relationship between each independent variable and the dependent variable in a regression model.

Y-intercept

The point where the graph of a function or relation intersects the y-axis of the coordinate system.