Economics · Oct / Nov 2023 · Paper 12 · Question 6

The markets of four products are all in equilibrium. The table gives the value of the price elasticity of supply (PES) for each product. The demand for each product shifts to the right by 5000 units at all prices. Which product will have the largest price increase?

1. A0
2. B0.6
3. C1.0
4. D2.5

As printed in the paper