Quelpr
3 marksElasticity of Demand and Supply

CSEC Economics · May/June 2011 · Paper 2 · Question 2(d)(i)

A demand schedule for Product X showing price and quantity demanded.

Using the information in Table 1, calculate the price elasticity of demand for Product X when the price changes from US 5 to US 3.

This question uses a figure or table from the paper — you'll see it when you practise.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 2(a)(i)Define income elasticity of demand.[2 marks]
  2. 2(a)(ii)Define cross elasticity of demand.[2 marks]
  3. 2(b)Identify ONE factor that affects income elasticity of demand.[1 mark]
  4. 2(c)Explain TWO factors that affect price elasticity of demand.[6 marks]
  5. 2(d)(ii)Interpret the result obtained in (d)(i).[1 mark]

More practice: the rest of this paper · more Elasticity of Demand and Supply questions · all CSEC Economics past papers