Quelpr
2 marksTheory of Consumer Demand

CAPE Economics Unit 1 · 2006 · Paper 1 · Question 3(a)

Price changes from 4.00 to 3.00, causing quantity demanded to change from 3 to 6.

Calculate the elasticity of demand for compact discs using the mid-point formula.

The mark scheme is shown once you've answered.

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Other parts of this question

  1. 3(b)Determine whether the demand for compact discs is elastic, inelastic, or unit elastic, and explain your answer.[2 marks]
  2. 3(c)List TWO factors that determine the elasticity of demand for compact discs.[2 marks]

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