A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2018 · Q21 Mark
The diagram shows the marginal private benefit (MPB), the marginal private cost (MPC) and the marginal social cost (MSC) for firms in an industry. The equilibrium price is point X. [Figure 2.1]
- Aa decrease in consumption and an increase in price
- Ba decrease in production and no change in price
- Can increase in consumption and a decrease in production
- Dan increase in price and no change in production
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 2018). The mark or mark type is shown in brackets.
- [1] A
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