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I have been asked to complete this question in both the midpoint elasticity and the arc elasticity formula. I am not sure how to do

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I have been asked to complete this question in both the midpoint elasticity and the arc elasticity formula. I am not sure how to do that. Please help.

image text in transcribed
2. Using the data given below, identify if the good is elastic or inelastic. Be sure to show your calculations and use the methods discussed in directions to the assignment on the assignment window. (8 points) Price Quantity demanded Total Revenue Old 6 8 48 New 5 9 45

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