Midpoint formula The elasticity $$\epsilon$$ can be calculated using the midpoint formula: $$\epsilon = 100*\frac{\frac{Q_1 – Q_0}{\bar{Q}}}{ \frac{P_1 – P_0}{\bar{P}}}$$…
Midpoint formula The elasticity $$\epsilon$$ can be calculated using the midpoint formula: $$\epsilon = 100*\frac{\frac{Q_1 – Q_0}{\bar{Q}}}{ \frac{P_1 – P_0}{\bar{P}}}$$…