Economics | 9708 P12 Oct/Nov 2020 | Cambridge AS Level Past Year Paper Discussion | qiphyedu
*4:50 For question 3 the second statement is a positive statement, but not because of the PED, but because of the fact that increasing the price would result in a surplus as the price is above equilibrium, or the supply curve shifts to the left which would increase the price as well, therefore resulting in a movement to the left of the demand curve, which decreases demand.
