A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2019 · Q51 Mark
The diagram shows a supply curve for beef. What explains why the supply curve for beef slopes upwards?
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.
AAn increase in the demand for beef will bring about an increase in supply.
BFarmers' productivity rises as the price rises.
CIncreased production leads to a reduction in costs.
DThe cost of additional beef production rises as output increases.
✓ Correct answer
D: The cost of additional beef production rises as output increases.
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill The price system and the microeconomy and see which topics are most likely to come up next.
Sign up free →