A-LevelEconomicsElasticityOct/Nov 2010Paper 1 Q81 Mark
The diagram shows the demand curve for a product. [Figure 8.1] Which statement is correct?
ADemand is less elastic at higher prices than at lower prices.
BConsumer expenditure on the product always rises when price falls.
CPrice elasticity of demand is different at every price.
DPrice elasticity of demand equals one at every price.
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The correct answer is C. This question tests the candidate's understanding of elasticity within the Economicssyllabus. The examiner's mark scheme requires...
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