-If the Price in This Market Were $4:
A)farmers Would

question 31

Multiple Choice

$\begin{array} { | l | l | l | l | l | l | } \hline \begin{array} { l } \text { Units of Farmers' Product } \\\text { Demanded per month }\end{array} & 45 & 50 & 56 & 61 & 67 \\\hline \text { Price per unit } & \$ 5 & 4 & 3 & 2 & 1 \\\hline \begin{array} { l } \text { Units of Farmers' Product } \\\text { Supplied per month }\end{array} & 77 & 73 & 68 & 61 & 57 \\\hline\end{array}$
-If the price in this market were $4:

• A)farmers would keep on increasing the number of hectares allocated to the growing of the product
• B)buyers would want to purchase more of the product than is currently being supplied
• C)farmers would not be able to sell all of the product
• D)there would be a shortage of the product
• E)the price of the product would be forced higher

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Definitions:

Negatively Skewed Distribution

A distribution with a tail that is longer on the left side, indicating that the bulk of the values are concentrated on the right.

Standard Deviation

A measure indicating the spread or discrepancy among quantities in a dataset.

Sample Mean

The average value of a sample set of data, used as an estimate of the population mean.

Population Distribution

The spread of people across locations, often analyzed for understanding demographics or economic conditions.