When Market Price Is Above the Equilibrium Level,it Will _____;When

question 9

Short Answer

When market price is above the equilibrium level,it will _____;when price is below the equilibrium level it will _____;when price is at the equilibrium level it will _____.

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Definitions:

Normal Distribution

A statistical distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Mean

A statistical measure that represents the average value of a set of numbers, calculated by dividing the sum of all values by the number of values.

P < .05

A statistical notation indicating that the probability of the observed data (or something more extreme) given that the null hypothesis is true is less than 5%, suggesting the findings are statistically significant.

Probability

A numerical expression representing the probability of an event happening, ranging from 0 (meaning the event cannot happen) to 1 (meaning the event is certain to happen).