The price elasticity of demand for purses
A)is measured in dollars.
B)is measured in purses.
C)is measured in dollars per purse.
D)is measured in purses per dollar.
E)has no units.

Question

Quizplus · Accepted Answer

The price elasticity of demand is a dimensionless measure, meaning it has no units. It is calculated as the percentage change in quantity demanded divided by the percentage change in price, resulting in a unitless measure.

The Price Elasticity of Demand for Purses