CIMA Exam CIMAPRA17-BA1-1 Topic 1 Question 72 Discussion

Actual exam question for CIMA's CIMAPRA17-BA1-1 exam

Question #: 72
Topic #: 1

A good has a price elasticity of supply of 0.8. Which of the following best describes the effects of a rise in demand for this good?

1. More will be spent on the good

2. More of the good will be made and sold

3. Producer incomes will rise

4. Price rises more than proportionately to the rise in quantity produced

A1 & 2 only

B1 & 3 only

C1 & 4 only

D1, 2, 3 & 4

Show Suggested Answer

Suggested Answer: A

by Carey at Jul 25, 2023, 06:25 AM

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