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:
- 2.32
- 1.20
- 1.00
- 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
This work is licensed under a Creative Commons Attribution 4.0 International License.
The Multiple Choice Questions Blog 