What are the units of elasticity if: (a) Price p is in dollars and quantity q is

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What are the units of elasticity if:
(a) Price p is in dollars and quantity q is in tons?
(b) Price p is in yen and quantity q is in liters?
(c) What can you conclude in general?

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 15, 2023 02:01 AM

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What are the units of elasticity if: (a) Price p is in dollars and quantity q is

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a We have E pq dqdp dollarstons tonsdollars All the units cancel and so elasticity h...View the full answer

Applied Calculus

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