Economics Multiple Choice Question – 7 August 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

When the price of a theatre ticket increases from £5 to £7, the number of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for theatre tickets?

Select ONE answer:

  1. 2.32
  2. 1.20
  3. 1.00
  4. 0.83

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is a multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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