________ is the process of generalizing the sample results to the population results

A price elasticity of demand of 2 means that a 10 percent increase in price will result in a:

a) 20 percent increase in quantity demanded. b) 2 percent decrease in quantity demanded. c) 5 percent decrease in quantity demanded. d) 2 percent increase in quantity demanded. e) 20 percent decrease in quantity demanded.

A laptop that is purchased for a graphic design studio is considered an industrial product

Indicate whether the statement is true or false