Which of the following is the most likely determinant of the magnitude of the cross elasticity of demand (XEDXEDXED) between electric vehicles (EVs) and dedicated home rapid-charging units?
The proportion of household disposable income spent on vehicle purchases
The price elasticity of supply (PESPESPES) of the lithium-ion batteries used in EV manufacturing
The degree of necessity of a dedicated home unit for EV ownership, representing how tightly coupled the two goods are as complements
A rise in the market price of residential electricity relative to petrol
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.