A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2014 · Q61 Mark
The diagram shows the market for milk. Two conditions change. The cost of catt sharply and this is followed by the government raising the tax on cheese which uses production. [Figure: Market for milk showing price vs. quantity, with multiple demand curves D and points W, X, Y, Z]
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.
Afrom W to X, followed by X to Z
Bfrom W to Z, followed by Z to X
Cfrom X to Z, followed by Z to Y
Dfrom Z to X, followed by X to Y
✓ Correct answer
C: from X to Z, followed by Z to Y
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