A-LevelEconomicsGovernment microeconomic intervention9708/31 · May/June 2017 · Q151 Mark

The diagram shows the effect of the introduction of a national minimum wage, WM, in an occupation where workers are employed by a profit-maximising monopsonist. [Figure 15.1] What happened to total wages received by the workers in the occupation? A decrease from OW2VQ2 to OWMUQ3 B decrease from OW2ZQ1 to OWMUQ3 C increase from OW1XQ1 to OWMYQ1 D increase from OW1XQ1 to OWMUQ3

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

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Topic: Government microeconomic intervention, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2017 Paper 3 Variant 1, question 15.

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