A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2015 · Q101 Mark

The price of a firm's product rises by 12%. After one week the firm is only able to produce the same quantity but after one month it can increase the quantity by 6%. How would the price elasticity of supply be described after one week and after one month?

Ainfinite elastic

Binfinite inelastic

Czero elastic

Dzero inelastic

✓ Correct answer

D: zero inelastic

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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 2015 Paper 1 Variant 2, question 10.

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The price of a firm's product rises by 12%. After one week the firm is only able to produce the same quantity but after one month it can increase the quantity by 6%. How would the price elasticity of supply be described after one week and after one month?

✓ Correct answer

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