A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2014Paper 1 Q151 Mark
The diagram shows the private and social costs and benefits that arise from the consumption and production of a good. If there is no government intervention, what is the value of the marginal external benefit?
A$2
B$3
C$4
D$6
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The correct answer is C. 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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