O-LevelEconomicsThe allocation of resources2281/11 · May/June 2015 · Q71 Mark

The diagram shows the market for fresh fish in the Caribbean with equilibrium point X. A new type of fishing boat increases production, which reduces costs. Which point represents the new equilibrium?

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A[Point A]

B[Point B]

C[Point C]

D[Point D]

✓ Correct answer

D: [Point D]

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2015 Paper 1 Variant 1, question 7.

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