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1.2.3 Price, income and cross elasticities of demand

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Question 29

A manufacturer of premium espresso machines produces specialized single-use coffee pods that only fit their specific machines. These two products are highly dependent on one another.

Which of the following is the most likely cross price elasticity of demand (XED) for the coffee pods with respect to a change in the price of the espresso machines?

−1.5-1.5−1.5

−0.1-0.1−0.1

+0.1+0.1+0.1

+1.5+1.5+1.5

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