Economics (AS & A Level) · Oct / Nov 2022 · Paper 12 · Question 12
9708Price elasticity of supply
A product has a high price elasticity of supply. What might explain this?
- AIt has a high opportunity cost.
- BIt has a non-perishable nature.
- CIt is classed as an inferior good.
- DIt is classed as a luxury good.
As printed in the paper
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Correct answer: B. It has a non-perishable nature.
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