Part 1[3]
Using Table 2, calculate the price elasticity of demand when Navpreet increases her price from $24 to $30 per hour.
Business 9609 · AS & A Level · The marketing mix
The marketing mix — practice question
Worked solution & mark scheme
This 3-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Correct formula together with the final PED value (PED = % change QD / % change P = −0.8 or 0.8)” …
- Full mark scheme, point by point
- Step-by-step worked solution
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