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What does the midpoint formula give you the midpoint of?
it gives you the midpoint of the line segment you use the formula for
Why is midpoint called midpoint?
A midpoint of anything is the point exactly halfway between the beginning point and the end point. So logically, it is the "midpoint".
What is the midpoint of the circle?
It is its centre or the midpoint of its diameter.
What is The midpoint of the hypotenuse?
The midpoint of the hypotenuse equidistant from all the vertices
How do you find midpoint?
midpoint = (x1+x2 , y1+y2/2)
What is the midpoint formula for the elasticity of demand?
Price elasticity demand formula end point formula epd= [q2-q1/q1]/[p2-p1/p1] midpoint formula epd= [q2-q1/(q2+q1)/2] / [p2-p1/(p2+p1)/2]
What is the main advantage of using the midpoint method for calculating elasticity?
When we compute price elasticity between any two points on a demand curve, we get a different answer depending on which point we choose to start and which point we choose to finish if we take the change in price and quantity as a percent of the starting value for each. With the midpoint method, the percentage changes in quantity and price are calculated by dividing the change in the variable by the average or midpoint value of the two points on the curve, not the starting point on the curve. In other words, it avoids the problem of getting a different answer when we computer price elasticity between any two points on a demand curve and it calculates by dividing the change in the variable by the midpoint value of the two points on the curve instead of the starting point on the curve. That is the advantage of using the midpoint method for calculating elasticity.
Difference between arc and point elasticity?
1) Point elasticity is measured by the ratio of the lower segment of the curve below the given point to uppa segment the super part of the curve above the point. 2) Arc elasticity is measured by the use of mid point between the old & the new figures in the case of both prine and qualitiy demonded.
What is midpoint postulate?
midpoint postulate
What does the midpoint formula give you the midpoint of?
it gives you the midpoint of the line segment you use the formula for
Short note on Arc Price Elasticity?
Arc elasticityFrom Wikipedia, the free encyclopediaJump to: navigation, searchArc elasticity is the elasticity of one variable with respect to another between two given points.The y arc elasticity of x is defined as:where the percentage change is calculated relative to the midpointThe midpoint arc elasticity formula was advocated by R. G. D. Allen due to the following properties: (1) symmetric with respect to the two prices and two quantities, (2) independent of the units of measurement, and (3) yield a value of unity if the total revenues at two points are equal.[1]Arc elasticity is used when there is not a general function for the relationship of two variables. Therefore, point elasticity may be seen as an estimator of elasticity; this is because point elasticity may be ascertained whenever a function is defined.For comparison, the y point elasticity of x is given by:[edit] Application in economicsThe P arc elasticity of Q is calculated asThe percentage is calculated differently from the normal manner of percent change. This percent change uses the average (or midpoint) of the points, in lieu of the original point as the base.[edit] ExampleSuppose that you know of two points on a demand curve (Q1,P1) and (Q2,P2). (Nothing else might be known about the demand curve.) Then you obtain the arc elasticity (a measure of the price elasticity of demand and an estimate of the elasticity of a differentiable curve at a single point) using the formulaSuppose we measure the demand for hot dogs at a football game. Let's say that after halftime we lower the price, and quantity demanded changes from 80 units to 120 units. The percent change, measured against the average, would be (120-80)/((120+80)/2))=40%.Normally, a percent change is measured against the initial value. In this case, this gives (12-8)/8= 50%. The percent change for the opposite trend, 120 units to 80 units, would be -33.3%. The midpoint formula has the benefit that a movement from A to B is the same as a movement from B to A in absolute value. (In this case, it would be -40%.)Suppose that the change in the price of hot dogs was from $3 to $1. The percent change in price measured against the midpoint would be -100%, so the price elasticity of demand is (40%/-100%) or -40%. It is common to use the absolute value of price elasticity, since for a normal (decreasing) demand curve they are always negative. Thus the demand of the football fans for hot dogs has 40% elasticity, and is therefore inelastic.
Why is midpoint called midpoint?
A midpoint of anything is the point exactly halfway between the beginning point and the end point. So logically, it is the "midpoint".
What in brooklyn has a midpoint?
The Brooklyn Bridge has a midpoint.
What is the midpoint of the circle?
It is its centre or the midpoint of its diameter.
In economics what are the types of elasticity?
price elasticity income elasticity cross elasticity promotional elasticity
What is the class midpoint?
midpoint between 4-16
What is the midpoint of this century?
2050
