Economics (AS & A Level) · May / June 2026 · Paper 31 · Question 9
9708Labour market forces and government intervention
The price of oil fell dramatically. As a result, 65 000 jobs were lost in the oil industry. How would this be represented on a diagram for the labour market for oil workers?
- Aa movement down the marginal revenue product curve
- Ba shift towards the horizontal axis of the marginal cost curve
- Ca shift towards the origin of the marginal revenue product curve
- Da shift towards the vertical axis of the average cost curve
As printed in the paper
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Correct answer: C. a shift towards the origin of the marginal revenue product curve
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