A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2024Paper 1 Q101 Mark
The diagram shows a shift of the supply curve in a market from S₁ to S2. [Figure 10.1] How will the consumer surplus and producer surplus change?
Aconsumer surplus: decreases by s, producer surplus: increases by s + u - t
Bconsumer surplus: decreases by s, producer surplus: increases by u + v - w
Cconsumer surplus: decreases by s + t, producer surplus: increases by s + t - v
Dconsumer surplus: decreases by s + t, producer surplus: increases by s + z - v
✓ Correct Answer
The correct answer is D. 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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