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1.2.3 Price, income and cross elasticities of demand

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Question 46

In January 2023, the specialty coffee subscription service BeanVoyage increased its monthly subscription price from £8.00 to £9.20. By June 2023, the number of active subscribers had fallen by 9%.

Ceteris paribus, calculate the price elasticity of demand (PED) for BeanVoyage subscriptions over this period. You are advised to show your working.

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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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