Economics 9708 · AS & A Level · Maximum and minimum prices

Maximum and minimum prices — practice question

The diagram illustrates a firm's supply and demand for apples. If the minimum price rises from P1 to P2, what happens to the quantity of apples sold?

  • AIt will decrease from Q1 to Q2.
  • BIt will decrease from Q4Q1 to Q2Q3.
  • CIt will increase from Q3 to Q4.
  • DIt will increase from Q3Q2 to Q4Q1.

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