The Mid-Point Method of Calculating Price Elasticity of Demand Measures

question 98

Multiple Choice

The mid-point method of calculating price elasticity of demand measures the _____ changes in quantity demanded and price relative to a point midway between _____.

• A) percentage; two points on a demand curve
• B) absolute; two points on a demand curve
• C) percentage; the demand and supply curves
• D) absolute; the demand and supply curves

---

Definitions:

Flavor Aversion Conditioning

A learning process in which an organism learns to avoid a particular taste because it has been associated with a negative reaction, such as nausea or discomfort.

Temporal Conditioning

A technique in which the presentation of the unconditioned stimulus (UCS) at regular intervals causes the internal state present at the time of the UCS to become able to elicit the conditioned response (CR).

Significant Distress

Intense emotional discomfort or pain that significantly impacts an individual's daily functioning or well-being.

Unconditioned Stimulus

A natural stimulus that effortlessly elicits a response with no learning required.