A-LevelEconomicsElasticityMay/June 2020Paper 1 Q81 Mark
Following the introduction of a 10% increase in charges for car parking in a city centre, the demand for bus journeys per day into the city rose from 800 to 1000. What was the cross elasticity of demand for bus journeys with respect to car parking charges?
A-0.4
B+0.4
C+2.0
D+2.5
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The correct answer is D. This question tests the candidate's understanding of elasticity within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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