Problem
1. Explain why elasticity of demand is measured in percentages.
2. Explain why the elasticity of demand formula normally eliminates minus signs.
3. Explain why the elasticity of a straight-line demand curve varies from one part of the curve to another.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.