Question 11 mark
When the price of a sandwich rises from €4 to €5, the quantity demanded falls from 200 to 170 a day. What is the PED, and what does it show?
Guide 2.5 · Unit 2: Microeconomics
Price elasticity of demand
SL questions. SL · HL · The lesson
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Question 21 mark
Demand for a firm's product has a PED of −2. The firm cuts its price. What happens to its total revenue?
Question 31 mark
Which of these is most likely to have price inelastic demand?
Question 41 mark
Why is the demand for petrol usually more price elastic in the long run than in the short run?