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2.4 Price

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Question 39

New technology lowers the cost of producing batteries, while demand is unchanged. What is the most likely result?

[1]
A

Equilibrium price rises and quantity falls

B

Equilibrium price falls and quantity rises

C

Both equilibrium price and quantity fall

D

Equilibrium price is unchanged and quantity rises

Markscheme

2.4 Price Questions

  1. GCSE
  2. /Economics
  3. /2.4 Price

75 exam-style questions on OCR GCSE Economics 2.4 Price, covering 2.4.1 Price and distribution of resources, 2.4.2 Equilibrium price and quantity, 2.4.3 Draw the interaction of demand and supply, 2.4.4 Analyse the interaction of demand and supply, 2.4.5 Role of markets in allocating resources, and 2.4.6 Market forces and equilibrium. Each one has a worked solution and a mark scheme showing where the marks go.

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