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CIMA Fundamentals of Business Economics BA1 Question # 66 Topic 7 Discussion

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CIMA Fundamentals of Business Economics BA1 Question # 66 Topic 7 Discussion

BA1 Exam Topic 7 Question 66 Discussion:
Question #: 66
Topic #: 7

The market demand for a good has a price elasticity of demand of 0.4. Which of the following statements is correct?
A.

Consumer expenditure will fall as price rises

B.

Producers' incomes will rise as price falls

C.

It is a product with many close substitutes

D.

Total quantity sold will fall as price rises

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Actual exam question for CIMA BA1 exam by Zara728 at Aug 3, 2025, 12:00:00 AM

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