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Economics (AS & A Level) · Oct / Nov 2021 · Paper 13 · Question 10

9708Price elasticity, income elasticity and cross elasticity of demand

What would be the price elasticity of demand for smartphones if their price fell from US$100 to US$90 and the quantity demanded rose from 200 to 250?

  1. A0.2
  2. B0.4
  3. C2.5
  4. D5.0

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Correct answer: C. 2.5

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