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3. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for tomatoes 10 II Demand 10 203050 00 0 8 100 QUANTITY (Thousands of pounds of tomatoes)
10 II Demand 10203° 40 50 60 70 BO 90 100 QUANTITY (Thousands of pounds of tomatoes) According to the midpoint method, the price elasticity of demand suggests that the demand for tomatoes its for tomatoes between point X and point Y is approximately which between points X and Y Grade it Now Save & Continue Contnue without saving
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40-30 bin elastinty of demand- 140+30)/2 7-8 17+8)/2 20 35 75 = -2-14 According to the midpoint -2.14 elastic betweet Peints

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