A-LevelEconomicsMicroeconomics: Price SystemMay/June 2023Paper 1 Q141 Mark

In the diagram, area OP₁M1Q₁ is equal to area OP2M2Q2. [Figure 14.1] What is the value of the price elasticity of demand if the price is halved from P₁ to P2?

Q: What topic does this question test?

This question tests Microeconomics: Price System in A-Level Economics (syllabus code 9708). It is worth 1 mark.

A–1

B–0.5

Czero

Dinfinity

✓ Correct Answer

The correct answer is A: –1

📋 Examiner Report & Trap Analysis

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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

🔒

Unlock the Examiner's Analysis

Join thousands of Cambridge students already using Oracle Prep

About This A-Level Economics Question

Topic

This multiple-choice question tests Microeconomics: Price System in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Economics May/June 2023 examination, Paper 1 Variant 2.

Practice on Oracle Prep

Oracle Prep provides AI-powered practice for all Cambridge O-Level and A-Level subjects. Our platform includes topic predictions with 87.7% accuracy, AI essay grading, and a comprehensive question bank spanning 25 years of past papers across 29 subjects.