May/June 2026 Paper 12

2026 · 30 questions · 30 parts · 30 marks

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9Price ControlsMedium1 mark
The diagram shows the market for an essential medicine. The government has intervened to decrease the maximum price of the medicine from to .
market diagram for an essential medicine, price on the vertical axis and quantity on the horizontal axis, with an upward-sloping supply curve S crossing a downward-sloping demand curve D; two dashed horizontal lines below the crossing point mark the maximum price, P1 the higher and P2 the lower
What is the impact of the decrease in maximum price on the market for this medicine?