The Formula for the Arc Elasticity of Demand Can Be $\eta$

question 7

Multiple Choice

The formula for the arc elasticity of demand can be written as:

• A) \(\eta\)_XY = [\(\Delta\)Q_X /(Q¹_X + Q²_X)]/[\(\Delta\)_X/(P¹_X + P²_X)].
• B) \(\eta\)_XY = [\(\Delta\)Q_X /(Q¹_Y + Q²_Y)]/[\(\Delta\)_Y/(P¹_X + P²_X)].
• C) \(\eta\)_XY = [\(\Delta\)Q_X /(Q¹_X + Q²_X)]/[\(\Delta\)P_Y/(P¹_Y + P²_Y)].
• D) \(\eta\)_XY = [\(\Delta\)P_X /(P¹_X + P²_X)]/[\(\Delta\)Q_Y/(Q¹_Y + Q²_Y)].
• E) none of the above.

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A number that reflects the degree to which one variable affects, or is related to, another variable.