A-LevelEconomicsGovernment Microeconomic InterventionOct/Nov 2024Paper 1 Q141 Mark
A product with infinite elasticity of supply has sales of 1000 units a week at a price of $1 per unit. Price elasticity of demand is 1.5 over the relevant range. The government imposes a tax of 10%. What will be the government's weekly tax revenue from this product?
A$15
B$85
C$100
D$150
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of government microeconomic intervention 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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