How do most economists report the elasticity of demand
A)as the absolute value of the actual number
B)as a negative number, since price and quantity demanded move in opposite directions
C)as a percentage, since both the numerator and denominator are percentages
D)as a dollar amount, since we are measuring the change in price

Question

Quizplus · Accepted Answer

Economists typically report the elasticity of demand as the absolute value of the actual number to focus on the magnitude of the response, ignoring the negative sign that indicates the inverse relationship between price and quantity demanded.

How Do Most Economists Report the Elasticity of Demand