Question 12
The same percentage price rise from P₀ to P₁ is shown for Products X and Y. Based on the diagram, which conclusion is most likely?
Product Y has the more price-elastic demand, so its quantity demanded falls proportionately more
Both products have unitary price elasticity because the price change is the same
Product X has the more price-inelastic demand, so its total revenue must fall
Product X has the more price-elastic demand and is more likely to experience a fall in total revenue
2.2 Demand Questions
41 exam-style questions on OCR GCSE Economics 2.2 Demand, covering 2.2.1 What is demand, 2.2.2 Draw a demand curve using data, 2.2.3 Explain a demand curve, 2.2.4 Shifts and movements of the demand curve, 2.2.5 Causes and consequences of demand changes, 2.2.6 Price elasticity of demand, 2.2.7 Draw demand curves of different elasticity, and 2.2.8 Importance of price elasticity of demand. Each one has a worked solution and a mark scheme showing where the marks go.