alleryWhy is elasticity described as a unitless measure in economics?
AIt uses fixed currency
BIt is a ratio of %
CIt counts physical units
DIt measures total time
Answer & Solution
Correct answer: B. It is a ratio of %
Elasticity is unitless because it evaluates proportionate or percentage changes rather than absolute physical quantities.
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Related questions
Match short habit:
1. Need: p. Short run
2. Adapt: q. Living
3. Long: r. ElasticMatch scale concepts:
1. Scale: p. Total
2. Output: q. Percent
3. Ratio: r. ElasticMatch Ricardo view:
1. David: p. Luxury
2. Cap: q. Saved
3. Tax: r. IncomeMatch income spent:
1. Large: p. Elastic
2. Small: q. Low elast
3. Share: r. BudgetMatch MR relation:
1. Pos MR: p. Elastic
2. Mid MR: q. Unit e
3. Neg MR: r. InelastMatch Cournot role:
1. Cournot: p. 1838
2. Prior: q. Marshall
3. Small: r. ChangesMatch point elast:
1. Point: p. Calc
2. Slope: q. dQ by dP
3. Spot: r. ExactMatch linear curve:
1. Upper: p. Elastic
2. Mid: q. Unit point
3. Lower: r. Inelastic