A-LevelEconomicsThe price system and the microeconomy9708/12 · Oct/Nov 2013 · Q51 Mark
The diagram shows an individual's demand curve. [Figure 5.1] What does XY measure?
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
Athe consumer surplus derived by the individual from the last unit consumed
Bthe equilibrium price of the good
Cthe quantity demanded by the individual at any given price
Dthe value of the individual's marginal benefit from the last unit consumed
✓ Correct answer
D: the value of the individual's marginal benefit from the last unit consumed
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