A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2012 · Q71 Mark
The diagram shows the relationship between total expenditure and price for three products, 1, 2 and 3. [Figure 7.1] Which curves represent the products with price elastic and unitary price elasticity of demand?
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.
A1 2
B2 3
C3 1
D3 2
✓ Correct answer
C: 3 1
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