If the Percentage Change in Quantity Demanded Is Greater Than

question 87

True/False

If the percentage change in quantity demanded is greater than the percentage change in the price for a good, then the demand for the good is elastic.

---

Definitions:

Convenience Sample

A sampling technique where participants are selected based on their ease of accessibility and availability to the researcher, rather than random selection.

Dependent Variable

In an experiment, the variable that is measured to determine whether it is affected by the manipulation of one or more other variables (independent variables).

Tipping Behavior

The practice of giving money as a bonus for services provided, often influenced by social norms, satisfaction, and cultural factors.

Internal Validity

The extent to which research findings are free from contamination by extraneous variables.