A-LevelEconomicsThe price system and the microeconomy9708/31 · May/June 2017 · Q81 Mark

The diagram shows the cost and revenue curves of a firm in imperfect competition. At which output will the firm produce if it wishes to make some supernormal profit to satisfy its shareholders and at the same time to allocate resources efficiently? [Figure 8.1]

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Mark scheme

Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2017 Paper 3 Variant 1, question 8.

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