A-LevelEconomicsMicroeconomics: Demand and SupplyFeb/Mar 2020Paper 1 Q51 Mark
In which circumstance will the total expenditure by consumers on a good increase when its price increases?
ADemand for the good is income elastic.
BDemand for the good is price inelastic.
CThe price of a complementary good also increases.
DThe price of substitute goods also increases.
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The correct answer is B. This question tests the candidate's understanding of microeconomics: 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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