Continuing with the above example of pineapples,
a. Calculate the percent change in price that occurs in moving from point A (the "base" case) to point B, using the midpoint formula. (If directed by your instructor, also calculate this using the log-difference formula.)
b. Calculate the percent change in quantity that occurs in moving from point A to point B, using the midpoint formula. (If directed by your instructor, also calculate this using the log-difference formula.)
c. Calculate the price elasticity of demand for pineapples.