Refer to the Above Graph

question 140

Multiple Choice

Refer to the above graph. From the economists' perspective, which is the independent variable and which is the dependent variable?

• A) Price is the independent variable and quantity demanded is the dependent variable
• B) Price is the dependent variable and quantity demanded is the independent variable
• C) Both price and quantity demanded are independent variables
• D) Both price and quantity demanded are dependent variables

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Definitions:

Luck Of The Draw

A phrase referring to the outcome being determined by chance rather than any controllable factors.

Probability Sampling

A sampling technique in which every member of the population has a known, non-zero chance of being selected.

Broader Population

Refers to a larger or more general group of individuals from which samples may be drawn for research or statistical analysis.

Random Number Generator

A tool or algorithm used to produce a sequence of numbers that lacks any predictable pattern, often used in statistical sampling, computer simulations, and cryptography.