A-LevelEconomicsThe price system and the microeconomy9708/12 · Oct/Nov 2010 · Q61 Mark
The diagram shows a consumer's short-run and long-run demand curves for coconuts. Initially, the consumer purchases quantity Q₀ at price P₀. [Figure 6.1] If the price of coconuts increases from P₀, the consumer's short-run response is greater than his long-run response. If the price decreases from P₀ his short-run response is smaller than his long-run response. What is the consumer's short-run demand curve?
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.
AVYW
BVYZ
CXYZ
DXYW
✓ Correct answer
D: XYW
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