A country decides to abolish its tariff on imports of copper from Zambia. Under which circumstances would this benefit Zambia? A The income elasticity of demand for copper is greater than one. B The price elasticity of demand for copper is greater than one. C The price elasticity of demand for copper is less than one. D The price elasticity of supply for copper is less than one.
- (a)A country decides to abolish its tariff on imports of copper from Zambia. Under which circumstances would this benefit Zambia? A The income elasticity of demand for copper is greater than one. B The price elasticity of demand for copper is greater than one. C The price elasticity of demand for copper is less than one. D The price elasticity of supply for copper is less than one.[1]
Mark scheme
Marking points from the official mark scheme (Oct/Nov 2019). The mark or mark type is shown in brackets.
- [1] (Correct option is B)
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