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

Price elasticity of demand — practice question

Goods X and Y are complementary goods. In column 1, the original market is shown at time period 1, while column 2 presents the position after the price of good Y rises. The value of cross elasticity of demand for good X in relation to the price of good Y is between:

  • A–1.7 and –2.6.
  • B–0.8 and –1.3.
  • C–0.3 and –0.8.
  • D+0.3 and +0.6.

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