The rise in output of corn and wheat was achieved more by increasing acres farmed than by raising output per acre

The midpoint formula is used to measure the elasticity of demand between two points on a demand curve

A) when demand is elastic. B) to ensure that the elasticity has a negative value. C) to ensure that we have only one value of the price elasticity of demand between two points on a demand curve. D) in special cases when the percentage change in the quantity demanded is equal to the percentage change in price.

Suppose the economy is at point 1 in Figure 13.1. With output below potential output, it might not be possible to create any expectation of an increase in inflation

How, then, might output be brought back to potential? What would this look like on the graph?