1.2 How markets work

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Question 41

Plant-Based Milk Market in Sweden


Price elasticity of demand for cow's milk	-1.25
Cross price elasticity of demand for oat milk in response to a price change in cow's milk	+0.75

The price of cow's milk increases by 8%. Ceteris paribus, calculate the percentage change in the quantity demanded for oat milk. You are advised to show your working.

[2]

1.2 How markets work

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Question 41

Plant-Based Milk Market in Sweden


Price elasticity of demand for cow's milk	-1.25
Cross price elasticity of demand for oat milk in response to a price change in cow's milk	+0.75

The price of cow's milk increases by 8%. Ceteris paribus, calculate the percentage change in the quantity demanded for oat milk. You are advised to show your working.

[2]

1.2 How markets work

Question 41

Plant-Based Milk Market in Sweden

1.2 How markets work Questions

1.2 How markets work

Question 41

Plant-Based Milk Market in Sweden

1.2 How markets work Questions