Economics 9708 · AS & A Level · Cross elasticity of demand

Cross elasticity of demand — practice question

The diagram illustrates a competitive market in equilibrium at price P and quantity Q. Which region represents consumer surplus, and which region represents producer surplus?

  • Aconsumer surplus OXYQ; producer surplus OZYQ
  • Bconsumer surplus OXYQ; producer surplus PYZ
  • Cconsumer surplus XYP; producer surplus OZYQ
  • Dconsumer surplus XYP; producer surplus PYZ

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI