Question 12
Question 12 of 40
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
2. The allocation of reso...
2.7. Price elasticity of demand (PE...

Calculation of PED using the formula and interpreting the significance of the result.

2. The allocation of reso...
2.6. Price changes

Demand and supply diagrams to be used to illustrate these changes in market conditions and their consequences for equilibrium price and sales.