3. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for tomatoes. PRICE (Dollars per pound) N Demand O 10 20 30 40 50 60 70 20 90 100 QUANTITY (Thousands of pounds of tomatoes) According to the midpoint method, the price elasticity of demand for tomatoes between point X and point Y is approximately , which suggests that the demand for tomatoes is between points X and Y