Skip to content
MathsGenie logo
Open app

Course home

  1. A Level
  3. Economics AQA
  5. Question bank

1.3 Price determination in a competitive market

EasyMediumHard
123456789101112131415161718192021222324252627282930313233343536373839404142
Question 11

A boutique fitness studio determines that the price elasticity of demand for its monthly membership passes is -1.5. If the studio decides to increase its monthly membership price by 8%, the total revenue generated from these passes will:

rise by 4.96%4.96\%4.96%.

fall by 4.00%4.00\%4.00%.

fall by 4.96%4.96\%4.96%.

fall by 12.00%12.00\%12.00%.

1.3 Price determination in a competitive market Questions

  1. A Level
  2. /Economics
  3. /1.3 Price determination in a competitive market