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1.2.3 Price, income and cross elasticities of demand

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Question 20

A market study of the consumer electronics industry estimated the cross elasticity of demand for smart printers to be -0.85 in response to changes in the price of proprietary ink cartridges. This implies that an 8% increase in the price of proprietary ink cartridges will cause the percentage change in demand for smart printers to be:

$- 9.4$

$- 6.8$

$- 0.11$

$6.8$

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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