-When Price Is $2
A)there Is a Surplus

question 244

Multiple Choice

$\begin{array}{ccc}\text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \\30 & \$ 10 & 64 \\40 & \$ 8 & 55 \\50 & \$ 6 & 50 \\60 & \$ 4 & 40 \\70 & \$ 2 & 20\end{array}$
-When price is $2

• A)there is a surplus.
• B)there is a shortage.
• C)quantity demanded is less than quantity supplied.
• D)price must fall to get to equilibrium.

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Definitions:

Independent Variable

The variable that is manipulated or controlled in an experiment to test its effect on the dependent variable.

Regression Equation

An equation that describes the statistical relationship between one dependent variable and one or more independent variables.

Compute Correlation

The process of determining the degree to which two variables are related or move together, often measured by correlation coefficients such as Pearson's r.