Which of the following statement is true about measuring price elasticity?

 Which of the following statement is true about measuring price elasticity?

  • When actual purchase is measured under controlled conditions, you are measuring Sales Data
  • Surveys measures the variable of actual purchases in an experimental environment
  • For field/laboratory experiments, one only needs to measure preferences and intentions
  • A carefully designed choice set in a Trade-Off Analysis can allow us to measure how a consumer trades off one variable against another
  • One of the strengths of a Survey is that people are honest about their intentions on what they will do

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