Quelpr
4 marksElasticity of Demand and Supply

CSEC Economics · May/June 2015 · Paper 2 · Question 1(d)

Calculate the price elasticity of supply when the price per sno-cone changes from 2 to 4.

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Other parts of this question

  1. 1(a)(i)Identify the equilibrium price.[1 mark]
  2. 1(a)(ii)Identify the equilibrium quantity.[1 mark]
  3. 1(b)List THREE factors that affect the price elasticity of demand.[3 marks]
  4. 1(c)(i)Explain what happens in the market when the price per sno-cone is $4.[3 marks]
  5. 1(c)(ii)Explain what happens in the market when the price per sno-cone is $1.[3 marks]

More practice: the rest of this paper · more Elasticity of Demand and Supply questions · all CSEC Economics past papers