Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 4 - Elasticity - Questions: 1

Answer

In calculating elasticity, units don't matter because we calculate elasticity by calculating the percentage change.

Work Step by Step

For example, the percentage change of quantity from 1 to 2 would be 100% and the percentage change of quantity from 1000 to 2000 would also be 100%. Therefore, the units do not matter.
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