# ENOUS Dahawanando Danmark pricing decision 990 Exam-style questions A product has a YED of -0.7. What...

###### Question:

ENOUS Dahawanando Danmark pricing decision 990 Exam-style questions A product has a YED of -0.7. What does this mean? A income rises by 7%, demand will fall by more than 1% 8 income rises by 1%, demand will fall by less than 1% C income rises by 1%, demand will rise by more than 1%. D If income rises by 1%, demand will rise by less than 1%. 23 A product has a PED of -1.5. If price goes down by 5%, what will happen to demand? A Demand will go up by 7.5%. B Demand will go down by 7.5%. C Demand will go up by 2.5%. D Demand will go down by 2.5% 20 Explain one possible use of PED to the owner of a bed and breakfast venture marke (4) 23 Explain why the PED of a bed and breakfast venture will vary at different points in time. Smarke

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