Which of the following statements about elasticity is true?
A) the percentage change in the prison population associated with a change in elected officials
B) the percentage change in the crime rate associated with a 1% change in the total population
C) the percentage change in violent offending associated with a change in the total population
D) the percentage change in the crime rate associated with a 1% change in the prison population

Question

Quizplus · Accepted Answer

Elasticity measures the responsiveness of one variable to changes in another variable, often expressed as a percentage change. Statement D describes this concept by relating the percentage change in the crime rate to a percentage change in the prison population.

Which of the Following Statements About Elasticity Is True