Answer to Question #255722 in Microeconomics for Titu

Question

Solve this (600-800)/(600+800)(250-200)/(250+200) using the midpoint method

Answer 1

Solution:

Using the mid-point method:

$=\frac{600 -800}{(600+800)/2 } \div \frac{250 -200}{(250+200)/2 }$

$=\frac{-200}{700 } \div \frac{50}{225 }$

$=\frac{-0.29}{0.22 } = -1.32$

= 1.32