ECON 1311 Lecture : Note_Feb_15_2022_9_49_48_AM

Using the midpoint formula for calculating the elasticity of demand, if the price of a good fell from $42 to $38, what would be the elasticity of demand if the quantity demanded changed from:

a. 19 to 21

b. 27 to 33

c. 195 to 205

Using the midpoint formula for calculating the elasticity of demand if the price of the good falls from $42 to $38, what would be the elasticity of demand if the quantity demanded changes from:

A. 19 to 21

B. 27 to 33

C. 195 to 205

The midpoint method for calculating price elasticity of demand is: