A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2017 · Q21 Mark
The diagram shows the private and social costs and benefits of production in a free market that result in market failure. [Figure 2.1]
- The diagram shows the private and social costs and benefits of production in a free market that result in market failure. [Figure 2.1] Which change in output would be necessary to overcome this market failure? A from K to M B from M to N C from M to L D from N to L[1]
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.
Mark scheme
Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.
- [1] C
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