The midpoint for the price elasticity of supply for tablet computers is mathematically given as
M= 2.5
What is price elasticity of supply?
The elasticity of supply in response to a shift in market price is measured by this concept.
What is the price elasticity of supply?
Generally, the equation for the Midpoint (elasticity method) is mathematically given as
[tex]M= \frac{[\frac{(Q2-Q1)}{(Q2+Q1)/2]}}{[\frac{(P2-P1}{(P2+P1)/2}]}[/tex]
Therefore
[tex]M= \frac{[(30-10)/(30+10)/2]}{[(150-100)/(150+100)/2]}[/tex]
M= 2.5
In conclusion, the the price elasticity of supply
M= 2.5
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