A firm has the following supply schedule. quantity supplied price ($) What is the price elasticity of supply of the good as the price increases from $5 to $10?

0455_w24_qp_11

MCQ

2024

Paper 1, Variant 1

View

The diagram shows the demand curve D1 and supply curve S1 for a good. The government introduces a subsidy to encourage production. price $ quantity D1 S1 S2 What will be the total cost of the subsidy to the government?

0455_s19_qp_11

MCQ

2019

Paper 1, Variant 1

View

A supply curve for a commodity is drawn to show how quantity supplied varies with A government taxes. B income. C tastes. D the price of the commodity.

0455_w12_qp_11

MCQ

2012

Paper 1, Variant 1

View

A supply curve for a commodity is drawn to show how quantity supplied varies with A government taxes. B income. C tastes. D the price of the commodity.

0455_w12_qp_12

MCQ

2012

Paper 1, Variant 2

View

A supply curve for a commodity is drawn to show how quantity supplied varies with A government taxes. B income. C tastes. D the price of the commodity.

0455_w12_qp_13

MCQ

2012

Paper 1, Variant 3

View

What does a supply curve show?

0455_w23_qp_11

MCQ

2023

Paper 1, Variant 1

View

In the diagram, which line represents perfectly inelastic supply?

0455_w24_qp_13

MCQ

2024

Paper 1, Variant 3

View

Many people are life-long, devoted fans of the Los Angeles Lakers basketball team in the United States. The team’s stadium can seat 19 000 spectators and tickets are always sold out. What does this suggest about the price elasticity of demand and the price elasticity of supply of tickets to watch the Lakers play?

0455_w13_qp_13

MCQ

2013

Paper 1, Variant 3

View

Newly built houses tend to be inelastic in supply. A government aim is to make the supply more elastic by relaxing building regulations. Why is the government not likely to achieve this aim immediately?

0455_w23_qp_11

MCQ

2023

Paper 1, Variant 1

View

The price elasticity of demand for cigarettes is estimated to be 0.5. The government introduces a tax on cigarettes to reduce consumption. By how much must the price of cigarettes rise to reduce consumption by 10%?

0455_m23_qp_12

MCQ

2023

Paper 1, Variant 2

View

---