If P = $50, Q

If P = $60, Q

Solutions:

- Let's use the midpoint to calculate the percentage (%) change in Q
_{d}:

(4000 − 2500) / (3250) × 100% = 46.15% - Percentage change in P

($60 − $50) / ($55) × 100% = 18.18% - The price elasticity of demand would be:

46.15% / 18.18% = 2.5

Date of last modification: 2019