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1.2.3 Price, income and cross elasticities of demand

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Question 11

A regional rail operator has found that the price elasticity of demand for first-class off-peak tickets is -1.8. Demand for these tickets is:

A

perfectly price elastic

B

perfectly price inelastic

C

relatively price elastic

D

relatively price inelastic

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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