A graph of price, P, versus quantity, Q, is a demand curve consisting of a straight line descending from (0, 42) to (1400, 0). The following points are shown. Point X is at (200, 36). Point Y is at (600, 24). Point Z is at (1000, 12). Refer to Figure 5-5. Using the midpoint method, the price elasticity of demand between point X and point Y is 0.4. 1. 2. 2.5