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2.7.4 PED and total spending on a product/revenue

Unit 2.7.4 - PED and total spending on a product/revenueThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the relationship between PED and total spending (total revenue) on a product, both in a diagram and as a calculation.Knowledge of PED for a good or service can be used by a firm to understand the impact of price changes on consumer expenditure (total spending) on the product....

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