

Midpoint Method in Economics
Interactive Video
•
Mathematics, Business, Science
•
9th - 12th Grade
•
Practice Problem
•
Hard
Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of the midpoint method in economics?
To find the average price of goods
To calculate the elasticity of demand
To determine the midpoint between two points on a graph
To assess the total revenue
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a graph, where is the price typically located?
In the legend
On the x-axis
On the y-axis
In the title
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you identify the old quantity on a graph?
It is the midpoint
It is the point labeled A
It is the point labeled B
It is the highest point
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating the midpoint of quantities?
(Q1 + Q2) / 2
(Q2 - Q1) / (Q1 + Q2)
(Q2 - Q1) / 2
(Q2 + Q1) / 2
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Q1 is 100 and Q2 is 160, what is the midpoint?
120
150
130
140
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the result of dividing the difference in quantities by the average of the quantities?
0.4615
1.4615
0.5615
1.5615
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating the midpoint of prices?
(P2 - P1) / (P1 + P2)
(P1 + P2) / 2
(P2 + P1) / 2
(P2 - P1) / 2
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