Given the Abundance of California Oranges,the Demand for Florida Oranges

question 120

Multiple Choice

Given the abundance of California oranges,the demand for Florida oranges will _____

• A)be less elastic than if there were no California oranges.
• B)be more elastic than if there were no California oranges.
• C)be as elastic as it would have been had there been no California oranges.
• D)be perfectly elastic.
• E)be perfectly inelastic.

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Definitions:

Test-Retest

A method of determining the reliability of a test by administering the same test to the same subjects at two different points in time.

Correlation Coefficient

A numeric value that indicates the strength of the relationship between two variables.

Standard Error

A statistical measure that describes the accuracy with which a sample represents a population, often used in inferential statistics.

Degree of Reliability

A measure of the consistency or stability of test scores or measurements over time.