A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2017 · Q111 Mark

Jam and honey are substitutes. Honey and beeswax are in joint supply. Other things being equal, what will be the result of an increase in the price of jam?

Afall fall

Bfall rise

Crise fall

Drise rise

✓ Correct answer

C: rise fall

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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 2017 Paper 1 Variant 2, question 11.

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