Four producers each see the price of their product rise. The table shows the percentage rise in price and the percentage rise in quantity supplied over the following month.
| Producer | Rise in price | Rise in quantity supplied |
|---|---|---|
| Strawberry grower | 10% | 4% |
| Bottled-water producer | 25% | 20% |
| Pottery workshop | 5% | 8% |
| Book printer | 12% | 12% |
Which producer has the most price elastic supply over this month?
Strawberry grower
Book printer
Pottery workshop
Bottled-water producer
236 exam-style questions on AQA GCSE Economics 1.3 How prices are determined, covering 1.3.1a Demand and the factors that influence it, 1.3.1b The demand curve, 1.3.2a Supply and the factors that influence it, 1.3.2b The supply curve, 1.3.3a Determining equilibrium price, 1.3.3b Applying diagrams and showing revenue, 1.3.4a Complements and substitutes, 1.3.4b Effects of changes on related markets, 1.3.5a Price elasticity of demand, 1.3.5b Factors affecting price elasticity of demand, 1.3.5c Measuring PED and its implications, 1.3.6a Price elasticity of supply, 1.3.6b Factors affecting price elasticity of supply, and 1.3.6c Measuring PES and its implications. Each one has a worked solution and a mark scheme showing where the marks go.