A product has a price elasticity of demand that is greater than one. What will happen to total revenue if the price of the product is reduced by 3 %?

2281_w09_qp_1

MCQ

2009

Paper 1, Variant 0

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The demand for a good is totally inelastic with regard to price. What will happen to the firm’s revenue if the price rises by 20 %?

2281_w12_qp_12

MCQ

2012

Paper 1, Variant 2

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The demand for a good is totally inelastic with regard to price. What will happen to the firm’s revenue if the price rises by 20 %?

2281_w12_qp_13

MCQ

2012

Paper 1, Variant 3

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In the 2016 Olympics in Brazil, the opening ceremony will take place in the Maracana Stadium, which can seat 82 000 spectators. It is expected that all tickets for the ceremony will be sold quickly, leaving many people dissatisfied. What can be concluded from this?

2281_w13_qp_12

MCQ

2013

Paper 1, Variant 2

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What is most likely to influence the price elasticity of demand for a food?

2281_w14_qp_12

MCQ

2014

Paper 1, Variant 2

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A consumer price index (CPconsists of four items. The table shows the percentage price change for each item over a period of a year and the weight of each item. Which price change will affect the level of the CPI most?

2281_w15_qp_13

MCQ

2015

Paper 1, Variant 3

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Some goods take a greater percentage of a typical household’s total spending than others. How is this accounted for in the construction of a Retail Price Index?

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MCQ

2016

Paper 1, Variant 2

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The table illustrates the demand and supply for coffee in a market in Africa. price per kg ($) quantity demanded quantity supplied When the price rises from $20 to $30 per kg, what is the price elasticity of demand for coffee?

2281_w17_qp_12

MCQ

2017

Paper 1, Variant 2

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The table illustrates the demand and supply for coffee in a market in Africa. price per kg ($) quantity demanded quantity supplied When the price rises from $20 to $30 per kg, what is the price elasticity of demand for coffee?

2281_w17_qp_13

MCQ

2017

Paper 1, Variant 3

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The table shows the demand and supply for spices in a market in Africa. price per kg (US$) quantity demanded quantity supplied 10 When the price rises from US$20 to US$30 per kg, what is the price elasticity of demand (PED) for spices?

2281_w18_qp_12

MCQ

2018

Paper 1, Variant 2

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