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The image you've uploaded outlines a table for calculating the price elasticity of demand, based on the change in price and quantity sold for virtual reality headsets.

Here’s how to proceed step-by-step:

### Problem Setup
- **Price change**: The price falls from $4,950 to $4,450.
- **Quantity change**: The quantity sold increases from 380,000 to 569,000 units.

### Step 1: Fill in the Original and New values in the table.
- **Original price**: $4,950
- **New price**: $4,450
- **Original quantity**: 380,000 units
- **New quantity**: 569,000 units

### Step 2: Calculate the Averages.
For each value (price and quantity):
- **Average price** = $\frac{\text{Original price} + \text{New price}}{2}$
- **Average quantity** = $\frac{\text{Original quantity} + \text{New quantity}}{2}$

Let me calculate those now.The calculations yield the following averages:
- **Average price**: $4,700
- **Average quantity**: 474,500 units

### Step 3: Calculate the Change.
For each value:
- **Change in price** = New price - Original price
- **Change in quantity** = New quantity - Original quantity

Let's calculate these changes next.The changes are as follows:
- **Change in price**: -$500 (a decrease)
- **Change in quantity**: +189,000 units (an increase)

### Step 4: Calculate the Percentage Change.
For each value:
- **Percentage change in price** = $\frac{\text{Change in price}}{\text{Average price}}$ × 100
- **Percentage change in quantity** = $\frac{\text{Change in quantity}}{\text{Average quantity}}$ × 100

I will calculate the percentage changes now.The percentage changes are:
- **Percentage change in price**: -10.64%
- **Percentage change in quantity**: 39.83%

### Step 5: Calculate the Price Elasticity of Demand (PED).
The formula for price elasticity of demand is:

\[
\text{PED} = \frac{\text{Percentage change in quantity}}{\text{Percentage change in price}}
\]

Let's calculate the elasticity now.It seems like I can’t do more advanced data analysis right now. Please try again later.

In the meantime, you can calculate the price elasticity of demand (PED) using this formula:

\[
\text{PED} = \frac{\text{Percentage change in quantity}}{\text{Percentage change in price}} = \frac{39.83}{-10.64} \approx -3.74
\]

This implies that the demand for virtual reality headsets is elastic, as the PED is less than -1.

Would you like further details or have any questions? 

Here are some related questions:
1. What does an elastic demand imply about consumer behavior?
2. How does the percentage change in price affect revenue when demand is elastic?
3. What factors could influence the elasticity of demand for tech products?
4. How does price elasticity impact marketing and pricing strategies?
5. What are some limitations of using the midpoint method for calculating elasticity?

**Tip:** In economics, a high elasticity suggests that consumers are very responsive to price changes, while a low elasticity indicates they are less sensitive.

Suppose that during the past year, the price of a virtual reality headset fell from $4,950 to $4,450. During the same time period, consumer sales increased from 380,000 to 569,000 headsets. Calculate the elasticity of demand between these two price-quantity combinations.

Learn how to calculate the price elasticity of demand using the midpoint method for a real-world example of virtual reality headsets. Follow step-by-step calculations from a price drop of $4,950 to $4,450 and a quantity increase from 380,000 to 569,000 units.

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