A model answer for the question:
With the help of an appropriate diagram, explain how the price elasticity of demand for road travel will affect the total revenue that the government receives if it increases the taxes on fuel (10 marks)
Question taken from AQA Unit 1 Question Paper January 2013
With the help of an appropriate diagram, explain how the price elasticity of demand for road travel will affect the total revenue that the government receives if it increases the taxes on fuel (10 marks)
Question taken from AQA Unit 1 Question Paper January 2013
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