A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2010 · Q41 Mark

The table shows the market supply for a raw material and the individual demand firms, X, Y and Z, which are its only buyers. What is the equilibrium market price of the raw material?

A$7

B$8

C$9

D$10

✓ Correct answer

C: $9

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, May/June 2010 Paper 1 Variant 2, question 4.

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