A-level Paper 1, June 2024Markets and Business Behaviour
A-level Paper 1, June 2024, Q2(b)
In Texas the price elasticity of supply is +1.8. Which one of the following is the percentage increase in price if the quantity of housing supplied in Texas is increased by 12%?
Multiple choice1 mark
Context
Table: price elasticity of supply for housing in the US, 2020 – New York +0.5, Texas +1.8.
A0.15
B1.50
C6.67
D21.60
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