A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2011Paper 1 Q91 Mark
The table shows demand and supply schedules for red peppers. The equilibrium price is initially 15 cents per kg. [Table showing price per kg (cents), amount demanded kg (thousands), amount supplied kg (thousands)] The government pays a subsidy of 10 cents per kg to producers. What will be the new equilibrium price charged to consumers?
A5 cents
B10 cents
C15 cents
D20 cents
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of the price system and the microeconomy within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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