A-Level
EDEXCEL
Economics (UK)
October 2020
4 Marks
QP-202010-EconomicsA-U1-Local · Question 2
Question (excerpt):
2 (a) The income elasticity of demand for bus travel is estimated to be –1.5. This implies that: (1) A a 10% increase in fares will lead to a 15% decrease in passengers B as unemployment falls, more p…
2 (a) The income elasticity of demand for bus travel is estimated to be –1.5. This implies that: (1) A a 10% increase in fares will lead to a 15% decrease in passengers B as unemployment falls, more p…
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