A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2018 · Q101 Mark
The diagram represents the market for diamonds. [Figure 10.1] What could have caused price to change from P₁ to P₂?
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
Afall in the price of substitute gems
Bfall in the tax on diamonds
Crise in the productivity of diamond miners
Drise in the wages of diamond miners
✓ Correct answer
D: rise in the wages of diamond miners
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