O-LevelEconomicsThe allocation of resources2281/11 · May/June 2012 · Q71 Mark

The diagram shows the demand and supply curves for digital cameras. The original equilibrium point is X. What will be the new equilibrium point if these cameras become more fashionable and the rate of sales tax rises?

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✓ Correct answer

B: B

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2012 Paper 1 Variant 1, question 7.

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