| Average Price of VR Headsets (£) | Weekly demand for VR Headsets (units) | Weekly demand for VR Action Games (units) |
|---|---|---|
| 250 | 5,000 | 1,200 |
| 300 | 4,200 | 900 |
Refer to Table 1. When the price of VR Headsets rises from £250 to £300, the cross elasticity of demand for VR Action Games with respect to the price of VR Headsets is
+1.25+1.25+1.25
−1.25-1.25−1.25
+0.80+0.80+0.80
−0.80-0.80−0.80
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.