The Goal for an Experiment Is to Demonstrate That Changes

question 50

True/False

The goal for an experiment is to demonstrate that changes in one variable are responsible for causing changes in a second variable.​

---

Definitions:

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in its price, with elasticity greater than one indicating a high sensitivity to price changes.

Supply Elasticity

A measure of how much the quantity supplied of a good changes in response to a change in price.

Equilibrium Price

The equilibrium price where the supply of goods meets consumer demand.

Horizontal Supply Curve

Represents a market situation where the supply of a good is perfectly elastic, indicating the supplier is willing to sell any quantity at a fixed price.