Economics (AS & A Level) · Oct / Nov 2021 · Paper 11 · Question 11
9708Price elasticity of supply
The demand for a good increases. Under which circumstances will the quantity supplied of the good rise the most?
- AIt is an agricultural good that has an annual growing cycle and requires a cool climate.
- BIt is an agricultural good that is perishable and very expensive to store.
- CIt is a manufactured good that uses unskilled labour and there is unemployment in the economy.
- DIt is a manufactured good that uses capital-intensive production and it is currently at full capacity.
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Correct answer: C. It is a manufactured good that uses unskilled labour and there is unemployment in the economy.
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