When the price of digital SLR cameras was $2000, consumers bought 4000. When the price fell to $1200, consumers bought 14 000. What was the price elasticity of demand between these two prices, calculated with the midpoint method? Is demand elastic or inelastic?

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The Answer of When the price of digital SLR cameras was $2000, consumers bought 4000. When the price fell to $1200, consumers bought 14 000. What was the price elasticity of demand between these two prices, calculated with the midpoint method? Is demand elastic or inelastic?

When the Price of Digital SLR Cameras Was $2000, Consumers