Part 1[3]
Calculate the percentage change in demand for printed photographs if the price is cut by 10%, using Ralph’s estimate of price elasticity of demand (line 10).
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: “Final response: demand rises by 40% (that is, % change in demand = PED × % change in price = −4 × −10% = +40%).” …
- Full mark scheme, point by point
- Step-by-step worked solution
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