The formula to calculate point elasticity is:

\[ Έpa = \frac{\Delta Q}{\frac{Q1 + Q2}{2}} \div \frac{\Delta P}{\frac{P1 + P2}{2}} \]

Where:

• \(Έpa\) is the point elasticity.
• \(Q\) is the quantity.
• \(P\) is the price.
• \(\Delta Q\) is the change in quantity.
• \(\Delta P\) is the change in price.