Economics (AS & A Level) · May / June 2023 · Paper 11 · Question 7

When the price of good X is $2.00, the quantity supplied is 100 000. The price elasticity of supply of good X is 0.8 in the short run and 1.4 in the long run. The price of good X increases to $2.20. What is the increase in the quantity supplied of good X between the short run and the long run?

1. A6000
2. B60 000
3. C114 000
4. D140 000

As printed in the paper