Which of the Following Is NOT True About the Equilibrium

question 315

Multiple Choice

Which of the following is NOT true about the equilibrium price?

• A) The price where a change in quantity supplied occurs.
• B) The price where the demand curve intersects the supply curve.
• C) The price where quantity demanded equals quantity supplied.
• D) The price where there is neither excess quantity demanded or excess quantity supplied.

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Definitions:

Norm-Referenced Test

A type of test designed to compare and rank test takers in relation to one another.

Measures of Central Tendency

Statistical metrics that describe the center point or typical value of a dataset, including mean, median, and mode.

Raw Scores

The initial, unadjusted scores obtained directly from assessments or tests, often before any standardization, scaling, or norming procedures are applied.

Z-Score

The most fundamental standard score, which is created by converting an individual’s raw score to a new score that has a mean of 0 and a standard deviation of 1.