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Economics (AS & A Level) · Oct / Nov 2021 · Paper 12 · Question 17

9708Methods and effects of government intervention in markets

The diagram shows a firm's supply of and demand for apples. If a minimum price is increased from P1 to P2 what will happen to the amount of apples sold?

  1. AIt will decrease from Q1 to Q2.
  2. BIt will decrease from Q4Q1 to Q2Q3.
  3. CIt will increase from Q3 to Q4.
  4. DIt will increase from Q3Q2 to Q4Q1.

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Correct answer: A. It will decrease from Q1 to Q2.

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