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The endpoint method computes the percent change as a percent of the starting value. The endpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the starting value. The midpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method is better than the midpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right. The midpoint method is better than the endpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right.

The endpoint method computes the percent change as a percent of the starting value. The endpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the starting value. The midpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method is better than the midpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right. The midpoint method is better than the endpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right.

Economics:
Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter20: Elasticity: Demand And Supply
Section: Chapter Questions
Problem 11E: The price elasticity of the demand for gasoline is -0.02. The price elasticity of demand for...
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On D1, the price elasticity can be computed between points A and B using two methods, the endpoint method and the midpoint method. P $10 в $5 A D, D2 80 90 100 Q
Transcribed Image Text:On D1, the price elasticity can be computed between points A and B using two methods, the endpoint method and the midpoint method. P $10 в $5 A D, D2 80 90 100 Q
The endpoint method computes the percent change as a percent of the starting value. The endpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the starting value. The midpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method is better than the midpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right. The midpoint method is better than the endpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right.
Transcribed Image Text:The endpoint method computes the percent change as a percent of the starting value. The endpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the starting value. The midpoint method computes the percent change as a percent of the ending value. The midpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method computes the percent change as a percent of the average of the starting and ending values. The endpoint method is better than the midpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right. The midpoint method is better than the endpoint method of computing elasticity because it generates the same number whether the computation is made from right to left on the demand curve or from left to right.
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