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

Price elasticity of demand — practice question

The table gives the quantities demanded (Q) of goods X and Y for various prices (P) of both goods. In which range does the cross elasticity of demand for good Y with respect to the price of good X lie?

  • A0.75 to 1.5
  • B1.50 to 2.4
  • C1.66 to 2.0
  • D1.75 to 2.5

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