A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2024 · Q91 Mark

The price elasticity of the supply of yoghurt is estimated to be +1.5. If the demand for yoghurt rises and price rises by 20%, how much more will be supplied to the market?

A0.3%

B3.0%

C13.3%

D30%

✓ Correct answer

D: 30%

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, Feb/Mar 2024 Paper 1 Variant 2, question 9.

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