A Decrease in Quantity Supplied

question 67

Multiple Choice

A decrease in quantity supplied

• A)results in a movement downward and to the left along a fixed supply curve.
• B)results in a movement upward and to the right along a fixed supply curve.
• C)shifts the supply curve to the left.
• D)shifts the supply curve to the right.

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Definitions:

P-values

Measures that help determine the significance of results obtained in statistical hypothesis testing, indicating the probability of observing results if the null hypothesis were true.

Levels Of Significance

A threshold in hypothesis testing that determines the probability at which the null hypothesis is rejected, often denoted by alpha.

P-value

The probability of obtaining test results at least as extreme as the observed results, assuming that the null hypothesis is true.

Test Statistic

A calculated value from sample data that is used in a hypothesis test to determine whether to reject the null hypothesis, based on the likelihood of observing the sample data under the null hypothesis.