Price Changes Have Little Impact on the Quantity Demanded Of

question 39

Multiple Choice

Price changes have little impact on the quantity demanded of:

• A) substitute goods.
• B) inferior goods.
• C) normal goods.
• D) necessities.

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Definitions:

Demand Characteristics

Cues in an experiment that suggest to participants what behavior is expected, desired, or appropriate, potentially influencing the outcomes.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, often tested through scientific method.

Experiment Steps

The sequence of actions or procedures designed to systematically investigate a hypothesis by varying and measuring its effects.

Mean

In statistics, the arithmetic average of a set of values, calculated by adding them together and dividing by the number of values.