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1.2.3 Price, income and cross elasticities of demand

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Question 1
84%

Which one of the following is most likely to be a determinant of the price elasticity of demand for premium organic oat milk?

A

Availability of close substitute brands of plant-based milk

B

Change in the size of the consumer population

C

Increase in the cost of raw packaging materials

D

Number of unsold cartons of organic oat milk in supermarkets

Markscheme

1.2.3 Price, income and cross elasticities of demand Questions

  1. A Level
  2. /Economics
  3. /1.2.3 Price, income and cross elasticities of demand

119 exam-style questions on Edexcel A A Level Economics 1.2.3 Price, income and cross elasticities of demand. Each one has a worked solution and a mark scheme showing where the marks go.

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