The midpoint formula is used to measure the elasticity of demand between two points on a demand curve
A) when demand is elastic.
B) to ensure that the elasticity has a negative value.
C) to ensure that we have only one value of the price elasticity of demand between two points on a demand curve.
D) in special cases when the percentage change in the quantity demanded is equal to the percentage change in price.
C
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When government outlays exceed tax revenues, the situation is called a budget
A) surplus. B) deficit. C) with a negative balance. D) with no balance. E) debt.
In the Keynesian model when desired investment exceeds desired saving,
A) inventories rise. B) inventories fall. C) the price level rises. D) the price level falls.
Protectionist policies such as tariffs and quotas are beneficial to the nation imposing those trade barriers
a. True b. False Indicate whether the statement is true or false
What is money? What are the three definitions of money in the United States?