A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2018 · Q81 Mark

The price elasticity of supply of a good is +2. The quantity supplied originally was 200 units. The price increases by 30%. What will be the quantity supplied after the price increase?

A80 units

B140 units

C260 units

D320 units

✓ Correct answer

D: 320 units

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 2018 Paper 1 Variant 2, question 8.

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

Related Economics questions

The price system and the microeconomyFeb/Mar 20161m

A rise in the price of a good is accompanied by an increase in the quantity demanded. What could explain this?

The price system and the microeconomyFeb/Mar 20161m

What causes the demand curve for an inferior good to shift to the right?

The price system and the microeconomyFeb/Mar 20161m

In a town, bus fares fall by 50% and this leads to an increase in bus use by 30%. The effect on car use is very low w…

Government microeconomic interventionFeb/Mar 20171m

What is the most likely purpose of a government making transfer payments, such as social security benefits, to unempl…

Government microeconomic interventionFeb/Mar 20171m

Which circumstance is not likely to represent a strong case for an industry to be nationalised?

The macroeconomyFeb/Mar 20171m

How does a rise in the price of factors of production affect the aggregate supply (AS) curve?

← Browse all past-paper questions