A-LevelEconomicsThe price system and the microeconomy9708/12 · Oct/Nov 2021 · Q121 Mark
The diagram shows three supply curves. What can be concluded about the price elasticity of supply of the curves?
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.
AAs price rises, the price elasticity of supply of S2 will increase.
BAt any price, the price elasticity of supply of S₁ will be less than that of S3.
CAt any price, the price elasticity of supply of S2 will be higher than that of S3.
DThe price elasticity of supply of each curve is constant.
✓ Correct answer
D: The price elasticity of supply of each curve is constant.
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