Midpoint price elasticity of demand

Uses two observed points (p1,q1) and (p2,q2). Elasticity negative for ordinary demand curves.

Inputs

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Price 1

Quantity 1

Price 2

Quantity 2

Arc elasticity (midpoint method) —

(20,100)→(18,120): elasticity about −2.0.

E = [(q2−q1)/avg q] ÷ [(p2−p1)/avg p].

Arc uses averages between the two observations.