The midpoint method for calculating elasticities is convenient in that it allows us to
A)ignore the percentage change in quantity demanded and instead focus entirely on the percentage change in price.
B)calculate the same value for the elasticity,regardless of whether the price increases or decreases.
C)assume that sellers' total revenue stays constant when the price changes.
D)restrict all elasticity values to between 0 and 1.

Question

Quizplus · Accepted Answer

The midpoint method calculates elasticity using the average of the initial and final values, ensuring the elasticity is the same whether the price increases or decreases.

The Midpoint Method for Calculating Elasticities Is Convenient in That