Elasticity measures are preferred by economists to measures of slope when analyzing changes in the quantity of a good consumers purchase because
A) they are harder to calculate.
B) the measure of slope is dependent upon the units of measurement,elasticity is not.
C) the measure of slope does not have any units of measurement,elasticity does.
D) elasticity measures depend upon the type of currency,slope does not.

Question

Quizplus · Accepted Answer

Elasticity measures are preferred over measures of slope because the measure of slope is dependent upon the units of measurement used, while elasticity is not. This makes elasticity a more reliable measure of the responsiveness of quantity demanded to changes in price.

Elasticity Measures Are Preferred by Economists to Measures of Slope