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Edexcel A-Level Economics AS 1.3.2 3g Relationship Between Price Elasticity of Demand and Total Cross Elasticities Revenue Questions

Practise using demand diagrams and PED values to decide whether a price change raises, lowers or leaves total revenue unchanged.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • calculate total revenue before and after a price change using price and quantity data
  • use a PED value or demand-curve region to predict whether a price change raises total revenue

Edexcel A-Level Economics AS 1.3.2 3g Relationship Between Price Elasticity of Demand and Total Cross Elasticities Revenue Questions question 1

[Maximum number: 1]

The table shows the estimated price elasticity of demand for different car types in Norway.

Table for Question Edexcel A-Level Economics AS 1.3.2 3g Relationship Between Price Elasticity of Demand and Total Cross Elasticities Revenue Questions question 1 — Edexcel A-Level Economics AS
A

Demand for all three car types is price inelastic

B

Demand for all three car types is price elastic

C

An increase in the price of diesel cars will result in an increase in the total revenue for diesel car manufacturers

D

An increase in the price of electric cars will result in an increase in the total revenue for electric car manufacturers

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