In order to avoid problems involved with calculating percentage changes over a wide range,economists use the base or midpoint formula to calculate percent changes when measuring the price elasticity of demand.

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The statement is true. Economists do use the base or midpoint formula to calculate percent changes, especially when measuring the price elasticity of demand, as it allows for more accurate and consistent calculations over a wide range of data.

In Order to Avoid Problems Involved with Calculating Percentage Changes