Multiple Choice
The midpoint method for calculating elasticities is convenient in that it allows us to
A) ignore the percentage change in quantity demanded and instead focus entirely on the percentage change in price.
B) calculate the same value for the elasticity,regardless of whether the price increases or decreases.
C) assume that sellers' total revenue stays constant when the price changes.
D) restrict all elasticity values to between 0 and 1.
Correct Answer:
Verified
Correct Answer:
Verified
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