The diagram shows the demand and supply curves for tractors. The present equilibrium is at X. [Figure 9.1] What could be the new equilibrium if the government were to tax the country's manufacturers?
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.
✓ Correct answer
D: D
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Government microeconomic intervention and see which topics are most likely to come up next.
Sign up free →