2. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for oranges. PRICE (Dollars per pound) 10 Demand 0 0 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of pounds of oranges) 0.05 0.2 0.25 5 According to the midpoint method, the price elasticity of demand for oranges between point X and point Y is approximately the demand for oranges is between points X and Y. , which suggests that Grade It Now Save & Continua