Quiz: Price Elasticity of Demand - Calculation and Interpretation
AQA A level economics 7136 specification
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Building on what you've learned, let's test your knowledge of price elasticity of demand!
What does price elasticity of demand measure?
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Which factors can influence price elasticity of demand? (Select all that apply)
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Price elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in {{blank0}}.
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If a good has a price elasticity of demand greater than 1, what is it considered to be?
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If price elasticity of demand is 0, demand is considered to be {{blank0}}.
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If a firm wants to increase revenue, when is raising prices a good strategy?
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