The Mid-Point Method of Calculating Price Elasticity of Demand

question 97

Multiple Choice

The mid-point method of calculating price elasticity of demand:

• A) measures the percentage changes relative to a point midway between two points on a demand curve.
• B) measures the absolute change relative to a point midway between two points on a demand curve.
• C) measures the percentage change relative to a point midway between demand and supply.
• D) None of these is true.

---

Definitions:

Career Change

The process of transitioning from one occupation to another, often involving significant shifts in duties or industry.

Sabbatical

A period of paid or unpaid leave granted to an employee, often for study or travel, after a certain period of work, aimed at personal development.

Pay

The compensation or salary received by an employee in exchange for their labor or services.

Teenage Brain

Refers to the developmental stage of the brain in adolescents, marked by significant growth, change, and neuroplasticity.