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Elasticity

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Question 9

A change in the price of games consoles causes the weekly quantity demanded of video games to increase by 7.5%. The cross elasticity of demand between these two complementary goods is -1.25. If the price of games consoles is now £235.00£235.00£235.00, what was its original price?

£220.90£220.90£220.90

£221.70£221.70£221.70

£250.00£250.00£250.00

£259.31£259.31£259.31

Elasticity Questions

  1. A Level
  2. /Economics
  3. /Elasticity