In year 1, in the market for a good represented in the diagram, the initial demand and supply conditions are shown by D₁ and S₁, and the government has set a maximum price of OP2. In year 2, demand increases to D2, but there are no other changes to the conditions of supply or to the maximum price. Which row accurately shows the price and quantity in the market in each year?
✓ Correct Answer
The correct answer is D: year 1: price OP3, quantity OQ2; year 2: price OP2, quantity OQ3
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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