Why is elasticity used as a measure of the responsiveness of quantity changes to price changes rather

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Why is elasticity used as a measure of the responsiveness of quantity changes to price changes rather than (reciprocal) slope?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Posted Date: Jun 09, 2022 06:43 AM

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Why is elasticity used as a measure of the responsiveness of quantity changes to price changes rather

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We use elasticity instead of slope because slope d... View the full answer

Microeconomics

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