A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2018 · Q101 Mark
The diagram shows a firm that is a sales revenue maximiser. [Figure 10.1]
- AOutput takes place at R and price is at its highest.
- BOutput takes place at S and profits are maximised.
- COutput takes place at T and price is equal to the profit maximising price.
- DOutput takes place at T and price is lower than the profit maximising price.
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] D
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