If the Elasticity of Demand Is -2

question 39

Multiple Choice

If the elasticity of demand is -2.3 when calculated using the point elasticity method and -3.4 using the arc elasticity method, then

• A)you should use the point elasticity.
• B)it is OK to use either one.
• C)there must be a mistake in the calculations.
• D)you should use the arc elasticity.

---

Definitions:

Criticisms

Evaluations or judgments regarding the merits and faults of the actions or work of another.

Self-Actualisation

The process of realizing and fulfilling one’s own potential and capabilities, often considered the ultimate goal of personal development.

Potential

The inherent capability or capacity for growth, development, or coming into being.

Self-Actualise

The process by which individuals realize their fullest potential, achieving personal growth and self-fulfillment.