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The role of markets

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Question 58

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?

£8

£12

£16

£24

The role of markets Questions

  1. A Level
  2. /Economics
  3. /The role of markets