Given the information in Scenario 4.3, what is the point price elasticity of demand?

Cross-sectional data observed at several points in time is known as:

A) time series data. B) panel data. C) experimental data. D) none of the above.

The term ceteris paribus is an economic assumption that means

A) let the buyer beware. B) common sense is reality. C) the detail is in the interrelationship. D) other things being equal.