Price Elasticity of Demand is defined as:

 

 

 

Points

Shoe Sales per Week

Price per Pair ($)

 

0

70

A

100

60

B

200

50

C

300

40

D

400

30

E

500

20

F

600

10

 

a)      Calculate demand elasticity using the midpoint formula between points A & B, between points C & D, and between points E & F.