The table shows the price and quantity demanded for floor mats. Using the Midpoint Method, what is the price elasticity of demand between points
B
and
C
?
Note: Remember to take the absolute value of the result and round to the nearest hundredth. Rounding should be done at the end of your calculation.
Point Price Quantity
A
$
10
500
B
$
13
480
C
$
16
460
D
$
19
440
E
$
22
420