Explain why using the midpoint formula for calculating the elasticity of demand gives the same result whether

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Explain why using the midpoint formula for calculating the elasticity of demand gives the same result whether price increases or decreases, but using the initial price and quantity instead of the average does not.

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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Question Posted: Feb 07, 2013 06:05 AM

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Explain why using the midpoint formula for calculating the elasticity of demand gives the same result whether

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The average of prices and quantities demanded does not change when the direction of moveme...View the full answer

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