If P1 = $2, and Q1 = 10; P2 = $2.20 and Q2 = 8 In class, I showed you to use the midpoint formula, to calculate the price elasticity of demand from I to 2 as: %MQ1,2 EMP1.2 %MP1,2 Where Q2 - Q1 8 - 10 %AM Q1,2 = #100 = #100 = -* 100 = -22.22% ( Q 1 + Q 2) /2 (8+ 10)/2 9 P2 - P1 $2.20 - $2 $0.20 %AMP1,2 = *100 = *100 = * 100 = 9.52% ( P1 + P2) /2 ($2.20 + $2)/2 $2.10 %AMQ1,2 -22.22% EMP12 = 2.33 %AMP1.2 9.52% This assignment I want you to calculate the price elasticity of demand from 2 to I using the midpoint formula