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Edexcel IGCSE Economics 1.1.4 G Ped and Total Revenue Questions

Practise total-revenue elasticity questions by comparing revenue before and after a price change in a real product context.

Syllabus
First assessment 2019
Course
Economics 4EC1

Exam points

  • Use total revenue before and after a price change to judge whether demand is elastic or inelastic.
  • Apply elasticity reasoning to a real product where high resale prices reflect limited supply.

Edexcel IGCSE Economics 1.1.4 G Ped and Total Revenue Questions question 1

[Maximum number: 2]

Figure 6 shows financial data for a firm selling a selection of products.

Figure 6

Figure 6

Calculate the total revenue for the product that has a price elasticity of demand (PED) which is inelastic.

You are advised to show your working.

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