The Midpoint Method Is Used to Compute Elasticity Because It

question 80

Multiple Choice

The midpoint method is used to compute elasticity because it

• A)automatically computes a positive number instead of a negative number.
• B)results in an elasticity that is the same as the slope of the demand curve.
• C)gives the same answer regardless of the direction of change.
• D)automatically rounds quantities to the nearest whole unit.

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Definitions:

Industrial Union

Labor union whose members are linked by their work in a particular industry.

Craft Union

A labor union of workers who practice the same craft or trade.

Apprenticeships

Training programs that combine on-the-job training with classroom instruction, typically in a trade or profession, under the guidance of skilled workers.

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Organizations that represent the collective interests of workers in negotiations with employers about wages, working conditions, benefits, and other aspects of employment.