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

Cross elasticity of demand — practice question

Consumer surplus is present in the rice market. What does this indicate?

  • AConsumers benefit from rice production more than producers.
  • BConsumer demand for rice exceeds supply.
  • CSome consumers would be willing to pay more than the market price for rice.
  • DThe production of rice exceeds the supply.

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