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Supply

EasyHard
1
Question 1

The price of a product was initially £80. A rise in price caused the quantity supplied to change from 500 to 650. If the Price Elasticity of Supply (PES) is 1.5, what was the change in price?

A

£8

B

£12

C

£16

D

£24

Markscheme

Supply Questions

  1. A Level
  2. /Economics
  3. /Supply

3 exam-style questions on OCR A Level Economics Supply. Each one has a worked solution and a mark scheme showing where the marks go.

Question bank