A-LevelEconomicsElasticitiesOct/Nov 2012Paper 1 Q71 Mark
A manufacturer increases the price of his product in an attempt to increase total revenue. The table shows the outcome of the policy. price ($) total revenue 000's ($) 4 400 5 500 6 600 What is the price elasticity of demand for the product?
Aperfectly elastic
Bperfectly inelastic
Crelatively elastic
Drelatively inelastic
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of elasticities within the Economicssyllabus. The examiner's mark scheme requires...
📋 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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep