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1.2.3 Price, income and cross elasticities of demand

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Question 27

In a large city, the ride-hailing services VoltCab and ZoomRide are highly interchangeable, with commuters regularly switching between the two apps to find the cheapest fare for identical journeys.

Which one of the following is the most likely cross-price elasticity of demand ( $X E D$ ) between VoltCab and ZoomRide?

$+ 0.3$

$+ 3.8$

$- 0.3$

$- 3.8$

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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