A-LevelEconomicsDemand and SupplyFeb/Mar 2019Paper 1 Q61 Mark
A theatre increases the price of its tickets from $10 to $15. As a result, its total receipts decrease from $10000 to $6000. Within what range does the price elasticity of demand for theatre tickets lie?
A0.2 to 0.5
B0.6 to 1.0
C1.1 to 1.4
D1.5 to 2.0
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of demand and supply 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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