Economics · May / June 2019 · Paper 11 · Question 7
2281Demand
The table shows the demand schedule for a good at different prices. | price $ | quantity demanded | | 8 | 200 | | 10 | 160 | | 12 | 120 | | 14 | 60 | The current market price for the good is $10. Following a 20% increase in price, what will be the change in the quantity demanded?
- A–60
- B–40
- C+120
- D+200
As printed in the paper
Show the answer
Correct answer: B. –40
Make a free account to save your answers and see your weak topics and ask the AI why a wrong answer is wrong.