A-LevelEconomicsDemand and SupplyOct/Nov 2017Paper 1 Q71 Mark
In the diagram D₁D₁ is a straight line demand curve and D2D2 is a rectangular hyperbola curve. [Figure showing demand curves D1D1 and D2D2 intersecting at M, with D2D2 also passing through N] Which statement is correct?
AD2D2 is more elastic than D₁D₁ at point M.
BD2D2 is more elastic than D₁D₁ at point N.
CThe elasticity of demand increases on moving down both curves.
DThe elasticity of demand is inelastic at point M on both curves.
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of demand and supply within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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