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BPP Kit 2016/2017
Question 72The answer should be 120, not 110. Where did they get the $1 increase on price. I’m assuming it’s a mistake.
This is a Paper F5 question – you have posted in the F9 forum!
The BPP answer is correct.
For every $5 change in price, the demand changes by 10,000 units. That is exactly the same as saying that for every $1 change in price, the demand changes by 10,000/5 = 2,000 units.
However you write it, ‘b’ in the equation is still equal to 0.0005
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