Part 1[3]
Use Table 1. Work out the price elasticity of demand for Candle A when the price is cut from $5 to $4.
Business 9609 · AS & A Level · The nature of marketing
The nature of marketing — practice question
Worked solution & mark scheme
This 3-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Full marks for the correct final PED calculation (PED = % change in Q / % change in P = 50% / −20% = −2.5).” …
- Full mark scheme, point by point
- Step-by-step worked solution
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