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1.2.3 Price, income and cross elasticities of demand

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Question 16

In October 2022, The Metro-Post weekly magazine increased its price from £3.20 to £3.60. By March 2023, its national weekly sales had fallen by 5%.

Ceteris paribus, calculate the price elasticity of demand for The Metro-Post over this period. You are advised to show your working.

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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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