Economics (AS & A Level) · May / June 2021 · Paper 11 · Question 17

The diagram shows a market that is currently in equilibrium. A government is considering the possible consequences of introducing a price control into this market. Which statement is not correct?

1. AAll consumers and some producers will lose if OP1 becomes the minimum price.
2. BAll consumers will be unaffected if OP1 becomes the maximum price.
3. CNo producers will gain if OP2 becomes the maximum price.
4. DAll producers will gain if OP3 becomes the maximum price.

As printed in the paper