Economics (AS & A Level) · May / June 2022 · Paper 14 · Question 8

S_X, S_Y and S_Z are the supply curves of goods X, Y and Z. [graph showing supply curves S_X, S_Y and S_Z with price ($) on vertical axis and quantity supplied on horizontal axis] If the price of all three goods rises from $5 to $10, what are their price elasticity of supply values?

1. Agood X: equal to 1; good Y: equal to 1; good Z: equal to 1
2. Bgood X: equal to 1; good Y: greater than 1; good Z: greater than 1
3. Cgood X: less than 1; good Y: equal to 1; good Z: greater than 1
4. Dgood X: less than 1; good Y: greater than 1; good Z: greater than 1

As printed in the paper