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insherro insherro
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7 years ago
Why is the price elasticity of demand a relative measure? That is, why is elasticity measured in percentage terms rather than in absolute terms?
A) So the coefficient of elasticity will not be dependent on the physical units of the good.
B) Because absolute measures do not account for the direction of the change in quantity.
C) So that the coefficient of elasticity will not be negative.
D) Because the absolute price or quantity demanded of a product is irrelevant to the elasticity measure.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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University of Ottawa - Economics for Managers
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sofreshsofresh
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7 years ago
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Sweet Caroline
Good times never seemed so good
I've been inclined,
To believe they never would
Oh, no, no

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insherro Author
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7 years ago
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