Using the midpoint method, the price elasticity of demand for jackfruit between point A and point B is approximately demand for jackfruit is Y between points A and B. . This indicates that

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Chapter1: Making Economics Decisions
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3. Using the midpoint method
The following graph gives two points (A and B) along a hypothetical demand curve for jackfruit.
PRICE (Dollars per pound)
12
11
10
9
2
1
0
0
B
A
Demand
10 20 30 40 50 60 70 80 90 100 110
QUANTITY (Thousands of pounds of jackfruit)
?
Using the midpoint method, the price elasticity of demand for jackfruit between point A and point B is approximately
demand for jackfruit is
between points A and B.
. This indicates that
Transcribed Image Text:3. Using the midpoint method The following graph gives two points (A and B) along a hypothetical demand curve for jackfruit. PRICE (Dollars per pound) 12 11 10 9 2 1 0 0 B A Demand 10 20 30 40 50 60 70 80 90 100 110 QUANTITY (Thousands of pounds of jackfruit) ? Using the midpoint method, the price elasticity of demand for jackfruit between point A and point B is approximately demand for jackfruit is between points A and B. . This indicates that
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