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If the Percentage Change in Quantity Demanded Is Greater Than

question 2

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

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Definitions:

Electronically Activated Recorder

A device used to capture audio data within an environment, often used in research to record snippets of ambient sounds and conversations.

Participants' Privacy

Pertains to the protection and confidentiality of an individual's personal information, especially in the context of research or data collection.

Collecting Data

The process of gathering and measuring information on variables of interest in a systematic fashion, enabling one to answer stated research questions.

Scatter Plot

A graphical representation with points plotted on a Cartesian plane to show the relationship between two or more variables.

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