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UTS Economics for Business Exam ACTUAL QUESTIONS AND CORRECT ANSWERS
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---15November 20252025/2026A+
- UTS Economics for Business Exam 
ACTUAL QUESTIONS AND CORRECT 
ANSWERS 
price elasticity of demand - CORRECT ANSWERSthe percentage change in quantity 
demanded relative to a percentage change in price 
total revenue - CORRECT ANSWERSPrice x Quantity 
income elasticity of demand - CORRECT ANSWERSthe percent change in the quantity 
of a good demanded when a consumer's income changes divided by the percent change in the 
consumer's income 
cross-price elasticity of demand - CORRECT A...
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