The midpoint formula for calculating price elasticity of demand gives the same answer, regardless of the direction of the price change.

Name: The midpoint formula for calculating price elasticity of demand gives the same answer, regardless of the direction of the price change.
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Question

Quizplus · Accepted Answer

The midpoint formula for calculating price elasticity of demand is based on the average of the initial and final prices and quantities, and therefore gives the same answer regardless of the direction of the price change.

The Midpoint Formula for Calculating Price Elasticity of Demand Gives