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Edexcel Economics: Unit 3 Business Economics and Economic Efficiency (June 2014) EC03 Watch

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    omg... made so stupid MCQ mistakes ((
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    What answers did you get for the multiple choice?
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    Did anyone else get B for that management MCQ? Think it was only one which was unusual but I thought it must be profit satisficing as goals other than profit in short run


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    I stupidly put forward vertical integration, because i thought they were merging with milk seller, but my friends all put differently they put backward.

    I also did PPF wrong, ticked that private has more experience, but after exam I knew this was totally stupid, it had to be A but I read A wrongly.

    Guess the data response was alright, should be 4/4 8/8 and 16/16 but I found the 12 marker kind of hard. How did you draw your diagram? I did an upward shift of AC so AC>AR forcing firm to leave. But I couldnt understand that part in the extract somehow. So I hope this gives marks. So I put higher costs annually 500,000$ as well as lack in demand. evaluating those was not easy as well. oh dear.
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    (Original post by VinceVC)
    Did anyone else get B for that management MCQ? Think it was only one which was unusual but I thought it must be profit satisficing as goals other than profit in short run


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    Yes I put profit satisficing, the others were not making sense
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    (Original post by TheHenri)
    I stupidly put forward vertical integration, because i thought they were merging with milk seller, but my friends all put differently they put backward.

    I also did PPF wrong, ticked that private has more experience, but after exam I knew this was totally stupid, it had to be A but I read A wrongly.

    Guess the data response was alright, should be 4/4 8/8 and 16/16 but I found the 12 marker kind of hard. How did you draw your diagram? I did an upward shift of AC so AC>AR forcing firm to leave. But I couldnt understand that part in the extract somehow. So I hope this gives marks. So I put higher costs annually 500,000$ as well as lack in demand. evaluating those was not easy as well. oh dear.
    For the data response i did the same and also put another diagram of ar and mr shifting in as it said in the text the gum industry in the us was shrinking so therefore demand falling
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    What data response did everyone do out of interest?
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    (Original post by Boy_wonder_95)
    What data response did everyone do out of interest?
    9. I think 9 was much easier to get high marks, Price differentiation is not my thing tbh.
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    Did you guys also all get forward vertical? I thought it was a milk supplier merging with milk seller so forward:/ but everyone had backward.
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    Hi everyone. I found the multiple choice alright think i hit all the marks on the multiple choice. Just to confirm a few ones. Did everyone get A (no immediate increase in govt. Borrowing) for the PFI question and did everyone get B (profit satisficing) for the football managers question. And just to confirm question A was BACKWARDS VERTICAL INTERGRATION right.
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    (Original post by TheHenri)
    9. I think 9 was much easier to get high marks, Price differentiation is not my thing tbh.
    I did question 10... the majority of people from my school did 9 aswell saying it was easier
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    Can you actually get 3/4 with wrong Answer if your explanation is really good?
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    (Original post by TheHenri)
    Can you actually get 3/4 with wrong Answer if your explanation is really good?
    Max mark is capped at 2 if incorrect answer


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    (Original post by Boy_wonder_95)
    I did question 10... the majority of people from my school did 9 aswell saying it was easier
    You'll be fine! Onwards and upwards!
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    I did 10 also thought it had more scope for easier marks


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    Yeah, A for last question and B (profit satisficing) for that other question. What points did you make for the profit satisficing question?
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    (Original post by VinceVC)
    I did 10 also thought it had more scope for easier marks


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    Yeah I did 10. Did you draw a price discrimination diagram? Also did you say internet consumers had a more inelastic demand?

    What strategies did you choose for increased profit? I did predatory pricing, collusion and improving service
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    (Original post by TRR)
    For the data response i did the same and also put another diagram of ar and mr shifting in as it said in the text the gum industry in the us was shrinking so therefore demand falling
    I did the same thing
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    what did everyone get for the table with working out sales max?
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    What did everyone get for the sales maximisation multi-choice question? :confused:
 
 
 
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