A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2015 · Q121 Mark

S₁ and D₁ show the original supply and demand curves for cola. Point X is the initial equilibrium. What will be the new equilibrium position following a rise in production costs and a fall in the price of lemonade? [Figure 12.1]

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.

✓ Correct answer

A: A

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The price system and the microeconomy and see which topics are most likely to come up next.

About this question

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 12.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

S₁ and D₁ show the original supply and demand curves for cola. Point X is the initial equilibrium. What will be the new equilibrium position following a rise in production costs and a fall in the price of lemonade? [Figure 12.1]

✓ Correct answer

Practise more questions on this topic

About this question

Related Economics questions