CAIE A-Level Economics AS 2.2.4 Elasticity Values Questions

Practise applying price elasticity of demand to demand curves and analysing how price changes affect total revenue and expenditure using CAIE Economics AS questions.

Exam points

Explain and apply price elasticity of demand to classify demand curves and analyse effects on total revenue and expenditure.

[Maximum number: 1]

When the supply of a good decreases, equilibrium price stays the same.
What is the price elasticity of demand of the good?

-1

zero

infinite

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CAIE A-Level Economics AS 2.2.4 Elasticity Values Questions question 1