Economics 0455 · IGCSE · Price changes

Price changes — practice question

The diagram illustrates the price of a product in year 1 and year 2. Which changes in demand and supply are consistent with the price movement in year 2?

  • Ademand falls by 5%, supply falls by 10%
  • Bdemand falls by 10%, supply falls by 5%
  • Cdemand unchanged, supply falls by 10%
  • Ddemand rises by 15%, supply falls by 5%

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