May/June 2026 Paper 13

2026 · 30 questions · 30 parts · 30 marks

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8Price Elasticity SupplyHard1 mark
For which supply curve is the value of price elasticity of supply not the same at all points on the curve?
Diagram, four supply curves on axes of price (vertical) and quantity (horizontal). S1 is a straight line from the origin, steeply sloped. S2 is a vertical straight line at a fixed quantity. S3 is a straight line with a positive price-axis intercept (it does not pass through the origin), sloping gently upward and continuing furthest to the right. S4 is a horizontal straight line at a fixed price.