The Main Reason for Using the Midpoint Method to Calculate

question 18

Multiple Choice

The main reason for using the midpoint method to calculate an elasticity is that it

• A)gives the same answer regardless of whether the price increases or decreases.
• B)recognizes that prices are usually increasing, not decreasing.
• C)rounds prices to the nearest dollar and quantities to the nearest whole unit.
• D)uses fewer numbers than alternative methods.

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Definitions:

South

A region in the United States characterized by its unique cultural, historical, and economic attributes, often distinguished by its geographic location below the Mason-Dixon line.

Bargain of 1877

Deal made by a Republican and Democratic special congressional commission to resolve the disputed presidential election of 1876; Republican Rutherford B. Hayes, who had lost the popular vote, was declared the winner in exchange for the withdrawal of federal troops from involvement in politics in the South, marking the end of Reconstruction.

Samuel Tilden

Samuel Tilden was an American politician who served as the 25th Governor of New York and was the Democratic candidate for the U.S. Presidency in the disputed election of 1876.

Postmaster General

The head of the postal service, responsible for overseeing the operation of the national postal system.