The table below shows the estimated coefficient of price elasticity of demand (PED) facing four different categories of digital subscription services.
| Movie streaming | Music streaming | Gaming subscriptions | News subscriptions |
|---|---|---|---|
| -1.8 | -1.2 | -0.8 | -0.4 |
If the monthly subscription fees charged by all four categories of services fell by the same percentage, which type of service would experience the greatest proportional increase in total sales revenue?
Movie streaming
Music streaming
Gaming subscriptions
News subscriptions
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.