Calculate the price elasticity of demand for the following products using the midpoint formula, and rank them from most elastic demand to most inelastic demand.
$$\begin{array} { | l | l | l | l | }
\hline & \text { Beef } & \text { Chicken } & \text { Pork } \
\hline \text { P1 } & 2.5 & 5 & 3 \
\hline \text { P2 } & 2 & 4 & 2.5 \
\hline \text { Q1 } & 800 & 1,000 & 700 \
\hline \text { Q2 } & 1,200 & 1,250 & 800 \
\hline
\end{array}$$

Question

Calculate the price elasticity of demand for the following products using the midpoint formula, and rank them from most elastic demand to most inelastic demand.
 $$\begin{array} { | l | l | l | l | } 
\hline & \text { Beef } & \text { Chicken } & \text { Pork } \
\hline \text { P1 } & 2.5 & 5 & 3 \
\hline \text { P2 } & 2 & 4 & 2.5 \
\hline \text { Q1 } & 800 & 1,000 & 700 \
\hline \text { Q2 } & 1,200 & 1,250 & 800 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Calculate the price elasticity of demand for the following products using the midpoint formula, and rank them from most elastic demand to most inelastic demand.
 $$\begin{array} { | l | l | l | l | } 
\hline & \text { Beef } & \text { Chicken } & \text { Pork } \
\hline \text { P1 } & 2.5 & 5 & 3 \
\hline \text { P2 } & 2 & 4 & 2.5 \
\hline \text { Q1 } & 800 & 1,000 & 700 \
\hline \text { Q2 } & 1,200 & 1,250 & 800 \
\hline
\end{array}$$

Calculate the Price Elasticity of Demand for the Following Products