A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2013 · Q71 Mark

When the supply of a good decreases, equilibrium price stays the same. What is the price elasticity of demand of the good?

A-1

Bzero

C+1

Dinfinite

✓ Correct answer

D: infinite

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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 2013 Paper 1 Variant 2, question 7.

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