Economics 0455 · IGCSE · Price elasticity of demand (PED)

Price elasticity of demand (PED) — practice question

A tailor has four customers for her suit range. The table gives the annual demand for the suits she produces. Which price should be set to maximise the tailor’s annual revenue?

  • A$\$800$
  • B$\$900$
  • C$\$1000$
  • D$\$1100$

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