If you wanted to make sure that your calculation of elasticity between two points was the same,regardless of your initial point,you would use:
A)the absolute value of elasticity.
B)supply elasticity.
C)the midpoint formula calculation of elasticity.
D)the point formula calculation of elasticity.

Question

Quizplus · Accepted Answer

The midpoint formula calculation of elasticity ensures that the elasticity measure is the same regardless of whether we move from point A to point B or from point B to point A. This is because it takes the average of the two prices and quantities at the beginning and end points, which eliminates any bias that may result from using the original prices and quantities as the denominator in the elasticity calculation.

If You Wanted to Make Sure That Your Calculation of Elasticity