A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2018 · Q71 Mark
The table shows three different prices and quantities supplied per week of two products, X and Y. price of X () 10 15 20 quantity supplied of X 80 100 110 price of Y () 30 40 50 quantity supplied of Y 60 64 80 Which statement about price elasticity of supply (PES) is correct?
AThe PES of X is elastic for a fall in its price from $15 to $10.
BThe PES of X is unitary for a rise in its price from $15 to $20.
CThe PES of Y is elastic for a fall in its price from $40 to $30.
DThe PES of Y is unitary for a rise in its price from $40 to $50.
✓ Correct answer
D: The PES of Y is unitary for a rise in its price from $40 to $50.
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill The price system and the microeconomy and see which topics are most likely to come up next.
Sign up free →