If Demand Decreases and the Price Doesn't Change, There Will

question 31

Multiple Choice

If demand decreases and the price doesn't change, there will be a

• A)surplus.
• B)both a shortage and a surplus.
• C)shortage
• D)neither a shortage nor a surplus.

---

Definitions:

Capable

The quality of being able to achieve a specified task or outcome efficiently and effectively.

Consumer's Risk

The probability of accepting a defective product or service because the inspection or test fails to detect the flaw.

Hypothesis Testing

A statistical method that uses sample data to evaluate a hypothesis about the characteristics of a population.

Central Limit Theorem

A statistical theory stating that, given certain conditions, the distribution of the sum (or average) of a large number of independent, identically distributed variables will approach a normal distribution, regardless of the original variable's distribution.