9708/13 Economics May Jun 2012 Online Test | Cambridge AS and A Level MCQ
A sports stadium has two prices of seats. The cheaper seats are $10 and the more expensive seats are $20. When the prices of all seats are increased by 10%, the effects on demand are a fall of 5% for the cheaper seats and a fall of 12% for the more expensive seats.
What describes the responsiveness of demand to the change in price?