Andrea, so which response do you think the answer should be?
Price elasticity of demand revision sheetHi Rodrigo, Thank you so much for spotting this. I did some re-writing over the summer and changed the data in the table from 'top 10' to a 'select 10' but did not change the text. This kind of comment is very useful. Kindest, Alex
Unit 3.4(1) Economics of inequality and povertyHi Mark and Alex. Just a note - the Gini table does not show the countries with the highest Gini index numbers, but a selection of countries (Denmark is definitely not in the 10 most unequal countries by distribution of income!).
Unit 3.4(1) Economics of inequality and povertyHi Isabel, Thank you so much for your point. I understand the confusion relating to this question. I've changed the question to make it clearer. I was trying the test student understanding of what the consumer surplus actually is and relating this...
Paper 3 question on demand, utility, PED and price controlsI've always thought the last question is a bit tricky. It's not true that Apple is the sole supplier of phone covers for their iPhones, there are other providers. They might be the only sole providers of Apple phone covers. The question is misleading...
Price elasticity of demand revision sheetIsnt the calculation for consumer surplus just the area of the triangle so (base h height) /2 ? (1.10 X 3) /2 = $1.65 Is this wrong?
Paper 3 question on demand, utility, PED and price controlsHi again Anna, On reflection, I see your point and I've made the change. Kindest, Alex
Unit 2.5(1): Price elasticity of demand (PED)Hi Anna, Thank you so much for your point. You're right, we could do this without the minus sign, but we could also do it with the minus sign. The IB allow both. My personal preference is to use the minus sign in all cases (although I've written the...
Unit 2.5(1): Price elasticity of demand (PED)Can you please check the accuracy of the PED values on Diagram 2.52 in the Revision Notes? The minus sign seems unnecessary.
Unit 2.5(1): Price elasticity of demand (PED)
Kristína
Hi, regarding HL homework, 15 mark question. Using real-world examples mean in this case that students should come up with real businesses that have products with high PED and firms that have products with low PED? For instance: if it was just stated...
PED elasticity and sales revenue