Economics 9708 · AS & A Level · Income elasticity of demand

Income elasticity of demand — practice question

The final match of a major sports event takes place in a stadium with a fixed capacity of 40 000. The price of one seat is set at PF, yet once the tickets are released, every ticket is bought very rapidly and many people are left disappointed. Which diagram most accurately shows this?

  • A[IMAGE:9708_w22_qp_13_p6_diagram_5]
  • B[IMAGE:9708_w22_qp_13_p6_diagram_2]
  • C[IMAGE:9708_w22_qp_13_p6_diagram_4]
  • Ddiagram D

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI