Which of the following is the correct sequence of steps to calculate cross-price elasticity of demand using the midpoint method?

• A. Find the average quantity and price, calculate the change in quantity demanded, calculate the change in price, then divide the percentage change in price by the percentage change in quantity.
• B. Calculate the change in price, find the average price, calculate the change in quantity demanded, then divide the percentage change in price by the percentage change in quantity.
• C. Calculate the change in quantity demanded, find the average quantity, calculate the change in price, then divide the percentage change in price by the percentage change in quantity.
• D. Calculate the change in quantity demanded, calculate the change in price, find the average quantity and price, then divide the percentage change in quantity by the percentage change in price.

Answer: (D)