Microeconomics Midpoint Method Price Elasticity of Demand

Explanation of the Midpoint Method for Price Elasticity of Demand

[@krishmidha1037]

uhhhh? Great video until the end. 0.4615 divided by itself is one. Also even if the answer was zero, the no solution sign wouldn't be appropriate.

[@petrol_prophet]

thank you for making this simple for me!!

[@declangolden8462]

Thank you very much for explaining everything detailed and well. Worked well for me

[@BrokenPieChart]

Glad it helped

[@austinhan7899]

great simple explanation

[@BrokenPieChart]

Glad it was helpful!

[@malcomx4real]

Thanks this helped

[@QbertJames]

Thank you! You made it make sense.

[@BrokenPieChart]

Glad it was helpful!

[@novias1152]

Thank you!

[@drieux]

Isn’t .4615/.4615=1

[@jenniferyepez1947]

yes you are rightt

[@sagorhossain6754]

Yeah bro❤

[@dhgcrack3r111]

I do believe so

[@TCBars-ft6rf]

What different from price elasticity of demand?

[@Franky566]

price elasticity of demand has specificaly to do with the price in relation to demand.
midpoint formula can be applied to multiple things.

[@homayun8749]

0.6615/0.4615 = 1, not zero

[@Lol-iu2rf]

One is negative so it’s zero

[@anathigeorge1372]

the answer is actually -1

[@BrokenPieChart]

Midpoint is really concerned with absolute values. Given that, you sort of ignore the negative sign here is a quick answer.

[@rachelburke3199]

that still wouldn't make any sense though?? .4615/.4615 is 1 and .4615/-.4615 is -1 so how is a 0 involved?@@BrokenPieChart

[@emilyneira9911]

How do you know if it’s 160-100 instead of 100-160 same goes for 8-5 or 5-8

[@TS-ik1qd]

160 is Q2 (the new) and 100 is Q1 (the old), and in the formula you have to subtract Q2 from Q1 (Q2-Q1), which is 160-100

[@Franky566]

@@TS-ik1qd
thank you