A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2025 · Q61 Mark

What will influence the value of the price elasticity of supply of a good?

Athe level of producer surplus

Bthe time period under consideration

Cthe total income spent on the good

Dwhether the good is a necessity

✓ Correct answer

B: the time period under consideration

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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 2025 Paper 1 Variant 2, question 6.

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