The market system

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Question 15

Chloe Bennet is an organic market trader in York. She recorded the following change in sales when she reduced the price per punnet of her blueberries.

Table 1: Price and Sales of Organic Blueberries

	Price	Sales
Week 1	£4.00 per punnet	150 punnets
Week 2	£3.50 per punnet	180 punnets

Using the data in Table 1, calculate the total revenue in Week 1 and Week 2. Comment on the price elasticity of demand for blueberries sold by Chloe.

[4]

The market system

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Question 15

Chloe Bennet is an organic market trader in York. She recorded the following change in sales when she reduced the price per punnet of her blueberries.

Table 1: Price and Sales of Organic Blueberries

	Price	Sales
Week 1	£4.00 per punnet	150 punnets
Week 2	£3.50 per punnet	180 punnets

Using the data in Table 1, calculate the total revenue in Week 1 and Week 2. Comment on the price elasticity of demand for blueberries sold by Chloe.

[4]

The market system

Question 15

Table 1: Price and Sales of Organic Blueberries

The market system Questions

The market system

Question 15

Table 1: Price and Sales of Organic Blueberries

The market system Questions