Economics (AS & A Level) · Oct / Nov 2022 · Paper 13 · Question 12
9708Price elasticity, income elasticity and cross elasticity of demand
Which product has the lowest price elasticity of demand?
- Aprice rises by 0%, quantity demanded falls by 10%
- Bprice rises by 5%, quantity demanded falls by 5%
- Cprice rises by 10%, quantity demanded falls by 5%
- Dprice rises by 10%, quantity demanded falls by 0%
As printed in the paper
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Correct answer: D. price rises by 10%, quantity demanded falls by 0%
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