A-LevelEconomicsGovernment microeconomic intervention9708/12 · Oct/Nov 2024 · Q121 Mark
In the diagram, S₁ and S2 are the supply curves for an agricultural product in years 1 and 2 respectively. D is the demand curve in years 1 and 2. In year 1, the government purchased an amount necessary to ensure that the price was OP. The price is held at OP in year 2. How much more must the government buy in year 2 than it bought in year 1? [Figure 12.1]
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.
AWZ
BXY
CXZ
DYZ
✓ Correct answer
D: YZ
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