AS Paper 1, June 2018Introduction to Markets and Market Failure

AS Paper 1, June 2018, Q2(a)

Ceteris paribus, calculate the price elasticity of demand for the Daily Mail newspaper over this period. You are advised to show your working.

Short answerCalculate2 marks

Context

In February 2016 the Daily Mail newspaper increased its price from 60p to 65p. By August 2016 its sales had fallen by 5.41%.

Specification topics

Price, income and cross elasticities of demand

Revision notes

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