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1.2.3 Price, income and cross elasticities of demand

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Question 23

Table 1: Household Income and Demand Data for 'Saver-Value' Toilet Paper

VariableYear 1Year 2
Average Monthly Household Income£4,000£4,600
Monthly Quantity Demanded of 'Saver-Value' Toilet Paper (packs)50,00035,000

Using the data in Table 1, explain whether 'Saver-Value' toilet paper is a normal good or an inferior good.

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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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