AS Paper 1, June 2023Introduction to Markets and Market Failure
AS Paper 1, June 2023, Q4(b)
Which one of the following is the most likely cross price elasticity of demand for close substitutes?
Multiple choice1 mark
Context
During 2021 the UK experienced severe shortages of crisps, petrol and many other items.
A− 2.1
B− 0.1
C+ 0.1
D+ 2.1