Using the midpoint method,compute the elasticity of demand between points A and B.Is demand along this portion of the curve elastic or inelastic? Interpret your answer with regard to price and quantity demanded.Now compute the elasticity of demand between points B and C.Is demand along this portion of the curve elastic or inelastic? 
Definitions:
Bullwhip Effect
A phenomenon in supply chain management where small fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.
Manufacturing
The process of producing goods through the combination of labor, machinery, tools, chemical or biological processing, or formulation.
Reactive Capability Strategy
A business approach focusing on the ability to respond to changes in market demand or operational challenges quickly and efficiently.
Machine Flexibility
The ability of a machine to quickly adapt to producing different types of products or parts without significant downtime or cost.
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