The price elasticity of supply btwn point A and point B, using the midpoint method, is approximately?

Question

POINT A = $4 (Price), 150 (Quantity)

POINT A = $6 (Price), 200 (Quantiy)

Answer 1

Middle point for price: (6+4)/2=10/2=5

Change in price: ΔP=6-4=2

Change in price %: ΔP%=2/5=40%

Middle point for quantity: (150+200)/2=350/2=175

Change in quantity:  ÃŽÂ”Q=200 - 150 = 50

Change in quantity %: ΔQ%= 50/175 ≈28.57%

E=ΔQ% / ΔP% =28.57/40≈0.714