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

Price elasticity of demand — practice question

The diagram illustrates four possible output levels for a firm. At the firm’s present output level, its product has a price elasticity of demand of exactly –1. Which output level is the firm selling?

  • AA
  • BB
  • CC
  • DD

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