A-LevelEconomicsThe price system and the microeconomy9708/12 · Oct/Nov 2011 · Q111 Mark
In the diagram, S₁ is the original supply curve and D is the original demand curve. [Figure showing supply S1, S2 and demand D curves, with price and quantity axes, and points P, Q, R, T, V, W, M, N] If supply shifts to S2, which area represents the change in consumer surplus?
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.
APQVT
BPQW
CPRVT
DTVW
✓ Correct answer
A: PQVT
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