2 marksTheory of Consumer Demand

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

List TWO factors that determine the elasticity of demand for compact discs.

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Other parts of this question

3(a)Calculate the elasticity of demand for compact discs using the mid-point formula.[2 marks]
3(b)Determine whether the demand for compact discs is elastic, inelastic, or unit elastic, and explain your answer.[2 marks]

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