Which of the following is a not a valid reason whyeconomists' consider the computation of amidpoint in elasticity?Because of the instances of market shocksthat may change the pattern of acommodity's elasticity.O None of the choices.OOBecause there is a need to determine theproduct-market fit from a historical data.Because changes are prone to one timeevent that may deviate from the historicaldata.

The midpoint formula for elasticity is used to calculate the percentage change in amount or price…

Which of the following is a not a valid reason why economists' consider the computation of a midpoint in elasticity? O Because of the instances of market shocks that may change the pattern of a commodity's elasticity. None of the choices. Because there is a need to determine the product-market fit from a historical data. Because changes are prone to one time event that may deviate from the historical data.

Which of the following is a not a valid reason why economists' consider the computation of a midpoint in elasticity? O Because of the instances of market shocks that may change the pattern of a commodity's elasticity. None of the choices. Because there is a need to determine the product-market fit from a historical data. Because changes are prone to one time event that may deviate from the historical data.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 28CTQ: Would you expect supply to play a more significant role in determining the price of a basic...

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