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O-LevelEconomicsThe allocation of resources2281/13 · Oct/Nov 2024 · Q161 Mark

There is a number of cafés selling snacks and drinks in a city centre. Several of these cafés close due to their owners retiring. What is the likely effect on the prices and profits of the remaining cafés?

Adecrease, decrease
Bdecrease, increase
Cincrease, decrease
Dincrease, increase

✓ Correct answer

D: increase, increase

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About this question

Topic
The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source
O-Level Economics, Oct/Nov 2024 Paper 1 Variant 3, question 16.

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