An Increase in Supply Causes

question 292

Multiple Choice

An increase in supply causes

• A) quantity supplied to decrease.
• B) supply and price to increase.
• C) price to decrease.
• D) price to increase.

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Definitions:

Capable Process

A manufacturing or production process with the ability to produce outputs within pre-defined specifications and quality criteria reliably.

Operating Characteristics Curve

A graphical representation showing the behavior of a system, such as its true-positive rate versus false-positive rate, under various conditions.

Population Percent Defective

The percentage of items in a given population that do not meet the specified quality criteria, used as a measure of process quality.

OC Curve

The Operating Characteristic Curve, used in statistical quality control, representing the probability of accepting lots as a function of their defect level.