A-LevelEconomicsMicroeconomics: Market EquilibriumMay/June 2012Paper 1 Q171 Mark
In the diagram, D is the demand curve for an agricultural commodity and S₁ is the initial supply curve. [Figure 17.1] A good harvest causes the supply curve to shift to S₂. By how much will the demand curve have to shift to leave farm incomes unchanged?
A500 tonnes
B1000 tonnes
C2000 tonnes
D4000 tonnes
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The correct answer is B. This question tests the candidate's understanding of microeconomics: market equilibrium within the Economicssyllabus. The examiner's mark scheme requires...
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