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1.3 Price determination in a competitive market

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Question 36

A rise in the price of hothouse tomatoes from £5 to £6 per kg encourages growers to increase their supply from 40 kg to 60 kg each week. Other things remaining the same, this suggests that the price elasticity of supply for hothouse tomatoes is

A

0.40

B

0.80

C

1.25

D

2.50

Markscheme

1.3 Price determination in a competitive market Questions

  1. A Level
  2. /Economics
  3. /1.3 Price determination in a competitive market

256 exam-style questions on AQA A Level Economics 1.3 Price determination in a competitive market, covering 1.3.1 The determinants of the demand for goods and services, 1.3.2 Price, income and cross elasticities of demand, 1.3.3 The determinants of the supply of goods and services, 1.3.4 Price elasticity of supply, 1.3.5 The determination of equilibrium market prices, and 1.3.6 The interrelationship between markets. Each one has a worked solution and a mark scheme showing where the marks go.

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