Economics 0455 · IGCSE · Price elasticity of supply (PES)

Price elasticity of supply (PES) — practice question

A worldwide pandemic leads to a drop in demand for air travel. Which figure for the price elasticity of supply of air travel would make the number of tickets sold for air travel fall by the greatest amount?

A0
B0.5
C1
D1.5

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