Given this Price and Quantity demanded schedule I am asked to use the midpoint method to

determine the absolute value for price elasticity when the price falls from $50 dollars to $100 dollars I think I have the correct answer but it gets me a little bit confused when they say price falls 50 to 100 I just want to make sure I am calculating this properly so here I will show my work could you please check it for accuracy

Price     Quantity

$250      0

200        30

150        70

100        110        

$50        150

Free      190 units

110-150 over .5(110+150) all over 100-50 over .5(100-50)  I get -40/130 or -.3076 

50/75 or   .6666 

so if I am doing my math correctly -.3076 divided by .6666 equals -.46 they ask for the absolute value so I think the answer is .46   is that right??

the other choices include 4.6 and 5.3 and .36

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"