O-LevelEconomicsThe allocation of resources2281/12 · May/June 2024 · Q191 Mark

The diagram shows the impact of a tax introduced on a product. [Diagram of supply and demand curves with a tax and points E, F, G, H, P1, P2, Q1, Q2]. Which area represents the amount of tax paid by the consumer?

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AHP₁FG

BHP₂EG

COP₂EQ₂

DP₁P₂EF

✓ Correct answer

D: P₁P₂EF

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2024 Paper 1 Variant 2, question 19.

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