The Midpoint Formula Is Used to Measure the Elasticity of Demand

question 157

Multiple Choice

The midpoint formula is used to measure the elasticity of demand between two points on a demand curve

• A)when demand is elastic.
• B)in special cases when the percentage change in the quantity demanded is equal to the percentage change in price.
• C)to ensure that the elasticity has a negative value.
• D)to ensure that we have only one value of the price elasticity of demand between two points on a demand curve.

---

Definitions:

Add Value

The process of increasing the worth of a product or service, often by improving quality, enhancing features, or improving its appeal.

Societal Pressure

Societal pressure refers to the influence exerted by a society upon individuals or organizations to behave in a certain way or to adopt specific norms and values.

Single Parents

Individuals who are raising their child or children without the involvement of the other parent, due to various reasons such as divorce, separation, death, or choice.

Persons With Disabilities

Individuals who have physical, mental, intellectual, or sensorial impairments that may hinder their full and effective participation in society on an equal basis with others.