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1.2.3 Price, income and cross elasticities of demand

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Question 38

Table 1: Price elasticity of demand for rail travel

Passenger CategoryPrice elasticity of demand
Peak-time Commuter-0.25
Weekend Leisure Traveller-1.65

Explain one likely reason for the difference in the price elasticity of demand for rail travel between Peak-time Commuters and Weekend Leisure Travellers.

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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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