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ECS2601 EXAM PACK 2022
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ECS2601EXAM PACK
FOR ASSISTANCE WITH THIS MODULE +27 67 171 1739
, OCTOBER NOVEMBER 2021
Table 1.
Elasticity type Elasticity value
PED coke 0.7
PED sprite 2.1
CPED of coke with respect to sprite 0.5
YED coke - 0.3
YED sprite 1.4
Part 1 of 9 -
Question 1 of 44
Table 1 below shows the demand elasticities for coke and sprite. Use the information in the
table to answer the question. Remember: CPED is the cross-price elasticity of demand; YED
is the income elasticity of demand, and PED is the price elasticity of demand. From the
table, we can conclude that
TABLE 1_Elasticity.docx 12 KB
• A. Coke is an inferior good.
• B. The price elasticity of demand for coke is elastic
• C. Coke and Sprite are complements.
• D. The price elasticity of demand for sprite is inelastic.
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Question 2 of 44
Due to the sugar tax, South Africans consumed 10 thousand bars of chocolate at a price of
R7 per bar in 2021 compared to 15 thousands bars of chocolate sold at R4 in 2015. Calculate
the price elasticity using the midpoint formula.
• A. -0.73
• B. 0.26
• C. -3.7
• D. -0.26
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Question 3 of 44
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