Economics (AS & A Level) · Oct / Nov 2025 · Paper 11 · Question 9

The table shows the price of a good and total expenditure on the good during specific periods when the market is in equilibrium. | period | price ($) | total expenditure ($) | |---|---|---| | 1 | 12 | 96 000 | | 2 | 5 | 40 000 | | 3 | 8 | 64 000 | | 4 | 10 | 80 000 | | 5 | 4 | 32 000 | What can be deduced from this data?

1. AThe good has constant opportunity cost.
2. BThe good is an inferior good.
3. CThe price elasticity of demand is equal to one.
4. DThe price elasticity of supply is equal to zero.

As printed in the paper