The table below shows the estimated price elasticity of demand (PED) facing different digital subscription services:
| Video streaming services | Music streaming services | News subscription services | Gym membership services |
|---|---|---|---|
| -1.5 | -0.7 | -0.3 | -1.0 |
If the monthly subscription fee charged for each of these services rose by the same percentage, which sector would see the greatest proportionate increase in total sales revenue?
Video streaming services
Music streaming services
News subscription services
Gym membership services
256 exam-style questions on AQA A Level Economics 1.3 Price determination in a competitive market, covering 1.3.1 The determinants of the demand for goods and services, 1.3.2 Price, income and cross elasticities of demand, 1.3.3 The determinants of the supply of goods and services, 1.3.4 Price elasticity of supply, 1.3.5 The determination of equilibrium market prices, and 1.3.6 The interrelationship between markets. Each one has a worked solution and a mark scheme showing where the marks go.