A-LevelEconomicsElasticityOct/Nov 2021Paper 1 Q121 Mark
The diagram shows three supply curves. What can be concluded about the price elasticity of supply of the curves?
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.
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The correct answer is D. This question tests the candidate's understanding of elasticity within the Economicssyllabus. The examiner's mark scheme requires...
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