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Elasticity

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Question 11

A change in the price of Good A causes the demand for Good B to increase by 6.4%. The cross elasticity of demand between the two goods is 1.6. If the price of Good A is now £3.64, what was its original price?

£3.493.493.49

£3.503.503.50

£3.603.603.60

£3.793.793.79

Elasticity Questions

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