A-LevelEconomicsDemand and SupplyFeb/Mar 2019Paper 1 Q131 Mark
Producer surplus is the difference between
Athe consumer surplus from the good and the producers' total cost of supplying the good.
Bthe highest price that the consumer would be willing to pay for the good and the price the producer actually sold it for.
Cthe lowest price that the producer would accept for the good and the price the producer actually sold it for.
Dthe quantity that the producers manufacture in a week and the amount sold to consumers in that week.
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of demand and supply within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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