(a)
Use lines 71–74. Calculate the:
- the cross elasticity of demand for the Hydrocamel after the Hippo Barrel price cut [2]
- annual revenue for the Hydrocamel if its price falls by 10% [5]
(b)[12]
You may refer to your answer to 2(a) and other information. Evaluate the usefulness to WTZ of elasticity data when planning its marketing strategy.