A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2025 · Q71 Mark
The diagram represents the market for a good. [Figure showing a demand and supply curve with points P, S1, X, Y, D1, Z, O and quantity] Which statement is correct?
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
AOX represents the price above which no producer wishes to stay in the market.
BOZ represents the minimum price consumers are prepared to pay.
CPYZ represents the total consumer surplus.
DXYZ represents the total producer surplus.
✓ Correct answer
D: XYZ represents the total producer surplus.
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