The price elasticity of demand for purses is measured in
A) dollars.
B) dollars per purse.
C) purses.
D) None of the above answers is correct because there are no units for elasticity of demand.

Question

Quizplus · Accepted Answer

Price elasticity of demand is a dimensionless measure, meaning it has no units. It is calculated as the percentage change in quantity demanded divided by the percentage change in price, resulting in a unitless measure.

The Price Elasticity of Demand for Purses Is Measured in