# Using the midpoint method to calculate the price of elasticity

Anonymous

Question description

I am having trouble with the midpoint method,

1. Using the midpoint method (show your work), calculate the price elasticity of demand when the price of an ice cream cone rises from \$1 to \$2.  What does this estimate imply about the price elasticity of demand for ice cream cones?
 Price of Ice Cream Cones Quantity of Ice Cream Cones Demanded \$1 3000 \$2 2400 \$3 1600 \$4 800

I have this so far 2400-3000/(3000+2400)/2 =-600/2400 = -0.22

then 2-1/1+2/2= 1 and 1.5 not sure where do go from here

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