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Midpoint Formula Economics Calculator . It can also show how supply affects product price. Use a calculator to do the math. Midpoint Formula Economics Elasticity Calculator from formulae2020jakarta.blogspot.com This formula seeks to determine how different factors affect the price of a product by assessing the relationship between a product's demand and its price. Thus price elasticity of demand using midpoint method is 2.33. The midpoint formula is used to calculate the elasticity of supply.