A-level Paper 1, June 2022Markets and Business Behaviour
A-level Paper 1, June 2022, Q2(a)
The price of sweetened drinks increases by 5%. Ceteris paribus, calculate the percentage change in the quantity demanded for sweetened drinks. You are advised to show your working.
Short answerCalculate2 marks
Context
The table below shows data on the drinks market in Chile in 2017. Price elasticity of demand for sweetened drinks –1.37 Cross price elasticity of demand for bottled water +0.63 in response to a price change in sweetened drinks …
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