Skip to content
MathsGenie logo
Open app

Course home

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

1.2 How markets work

EasyMediumHard
12345678910111213141516171819202122232425262728293031323334353637383940414243444546474849505152535455
Question 49

Micro-Mobility Services in Metro City

Elasticity MeasureValue
Price elasticity of demand (PED) for e-scooter rentals-1.6
Cross price elasticity of demand (XED) for public bicycle rentals in response to a price change in e-scooter rentals+0.45

The price of e-scooter rentals decreases by 15%. Ceteris paribus, calculate the percentage change in the quantity demanded for e-scooter rentals. You are advised to show your working.

[2]

1.2 How markets work Questions

  1. A Level
  2. /Economics
  3. /1.2 How markets work