Skip to content
MathsGenie logo
Quick links
Open app

Course home

  1. A Level
  3. Economics Edexcel A
  5. Question bank

1.2.3 Price, income and cross elasticities of demand

EasyMediumHard
1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253
Question 40

Average weekly allowance for children aged 5 to 11 years:

  • 2021: £8.00
  • 2023: £9.20

In the UK, 'Junior Fruit-drops' are a popular sweet bought by children in this age group. The income elasticity of demand (YED) for Junior Fruit-drops is estimated to be -0.2.

Calculate the percentage change in quantity demanded for Junior Fruit-drops between 2021 and 2023, ceteris paribus.

−0.3%-0.3\%−0.3%

−1.5%-1.5\%−1.5%

−3.0%-3.0\%−3.0%

−30.0%-30.0\%−30.0%

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