Which of the Following Is Evidence of a Surplus of Bananas

question 182

Multiple Choice

Which of the following is evidence of a surplus of bananas?

• A)Firms raise the price of bananas.
• B)The price of bananas is lowered in order to increase sales.
• C)The equilibrium price of bananas rises due to an increase in demand.
• D)The quantity of bananas demanded is greater than the quantity supplied.

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Definitions:

Ability Level

A measure of a person's competency or skill set in a particular area.

Randomized Block Design

An experimental design in which subjects are divided into blocks or groups that are similar and then randomly assigned to different treatments.

Analysis Of Variance

Analysis of Variance (ANOVA) is a statistical method used to compare the means of three or more samples to discern if at least one of the means is significantly different from the others.

Friedman Test

Used for spotting differences in treatments over multiple test trials, this test does not depend on parametric assumptions.