Learning Contents:                                                              ·          Calculating Income elasticity using Arc elasticity method( Practical Questions) Income Elasticity of Demand (Arc Elasticity or Midpoint method) Generally, the arc represents a portion or segment of some curve shape. When income elasticity is to be measured over a certain range or between two points on the income demand curve, we use arc- income elasticity method. It is also known as midpoint method. Unlike the proportionate method that uses the initial income and initial quantity in denominator (or base); this method uses the average of both income and qua...