Which of the Following Would Shift the Demand Curve for Gasoline

question 148

Multiple Choice

Which of the following would shift the demand curve for gasoline to the right?

• A)a decrease in the price of gasoline
• B)an increase in consumer income,assuming gasoline is a normal good
• C)an increase in the price of cars,a complement for gasoline
• D)a decrease in the expected future price of gasoline

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Definitions:

Variance

A measurement of the spread between numbers in a data set, signaling how far each number in the set is from the mean.

MSE

Mean Squared Error, a measure of the average squared differences between the estimated values and the actual value, indicating the quality of an estimator.

SSE

Sum of Squares due to Error, a measure used in statistical analysis to quantify the discrepancy between the observed and predicted data values.

Factorial Design

An experimental design method used in statistics that allows the investigation of the effects of multiple factors by varying them together.