One practical reason that economists use percentages to measure elasticity is to
A) predict consumer preferences.
B) compare characteristics of unrelated products.
C) convert units to the metric system.
D) convert elasticities into dollars.

Question

Quizplus · Accepted Answer

Percentages allow economists to compare the responsiveness of demand or supply of different goods or services, regardless of their units of measurement, making comparisons between unrelated products possible and meaningful.

One Practical Reason That Economists Use Percentages to Measure Elasticity