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1.2.3 Price, income and cross elasticities of demand

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Question 38

Estimates for the demand for canned processed meat in Germany suggest that it is an inferior good. This implies it has a negative:

A

price elasticity of demand

B

cross-price elasticity of demand

C

income elasticity of demand

D

price elasticity of supply

Markscheme

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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