A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2016 · Q121 Mark
In which market would equilibrium not be achieved at point E if price were above Op?
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.
ADiagram A showing upward sloping supply and downward sloping demand intersecting at E, with price p and quantity q.
BDiagram B showing upward sloping supply and vertical demand intersecting at E, with price p and quantity q.
CDiagram C showing upward sloping supply and downward sloping demand, with demand curve appearing steeper than supply curve, intersecting at E, with price p and quantity q.
DDiagram D showing upward sloping supply and downward sloping demand, with supply curve appearing steeper than demand curve, intersecting at E, with price p and quantity q.
✓ Correct answer
C: Diagram C showing upward sloping supply and downward sloping demand, with demand curve appearing steeper than supply curve, intersecting at E, with price p and quantity q.
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