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1.2.3 Price, income and cross elasticities of demand

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Question 54

Research conducted in Sweden in 2022 estimated the cross elasticity of demand for electric scooters to be 0.24 in response to changes in the price of public transit tickets. This implies that a 15% increase in the price of public transit tickets will cause the percentage change in demand for electric scooters to be:

$- 62.5$

$- 0.24$

$3.6$

$62.5$

Markscheme

1.2.3 Price, income and cross elasticities of demand Questions

A Level
Economics
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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