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1.2.3 Price, income and cross elasticities of demand

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Question 57

Warburtons, Kingsmill, and Hovis all charge approximately £1.45 for a standard loaf of sliced white bread.

Which one of the following is the most likely cross price elasticity of demand for these close substitutes?

$- 3.2$

$- 0.2$

$+ 0.2$

$+ 3.2$

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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