The Reason Economists Use the Midpoint Method to Compute Elasticity

question 17

Multiple Choice

The reason economists use the midpoint method to compute elasticity is that

• A) it is the only viable way to measure total revenue.
• B) economists want the elasticity to be the same whether the price is increasing or decreasing.
• C) it better measures consumers' responsiveness to price changes.
• D) it is the only way to avoid always using negative numbers.

---

Definitions:

Disability

A physical or mental condition that limits a person's movements, senses, or activities.

Gerontocracy

A society ruled by elderly people.

Sociology

The study of the development, structure, and functioning of human society, as well as the systematic study of social problems.

Human Body

The physical structure of a human being, considered within the study of biology, medicine, and, in certain contexts, sociology and culture.