O-LevelEconomicsThe allocation of resources2281/11 · May/June 2022 · Q61 Mark

The diagram shows the demand and supply for apples. To what extent is the market for apples in disequilibrium at a price of $2.50 per kilo? [Figure 6.1]

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ADemand exceeds supply by 200 000 tonnes.

BDemand exceeds supply by 400 000 tonnes.

CSupply exceeds demand by 200000 tonnes.

DSupply exceeds demand by 400 000 tonnes.

✓ Correct answer

D: Supply exceeds demand by 400 000 tonnes.

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2022 Paper 1 Variant 1, question 6.

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