| Price elasticity of demand for ride-sharing trips | -1.80 |
| Cross price elasticity of demand for public subway journeys in response to a price change in ride-sharing trips | +0.40 |
The price of ride-sharing trips decreases by 15%. Ceteris paribus, calculate the percentage change in the quantity demanded for public subway journeys. You are advised to show your working.
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.