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    Hey I am really worried about this exam and I was wondering if you guys can tell me roughly how many marks I would get for each question:

    5 mark:
    Marginal private cost is the extra unit of costs added that are associated with negative externalities. They are additional costs to the original.

    8 mark:
    Extract do illustrates that the price percentage change for sugars increased throughout the timeperiod with the exception of 2004 and 2005. Conversely the percentage change of fruits decreasedfrom the start 7.8 percent to 3.5in 2010.

    Additionally the price change of sugars was more constant And less volatile, the greatest gap between two years was 4.5 percent. However the price change of fruits were more volatile, fluctuating more frequently,reaching its highest 8.5 to -2 in a space of two years. This is probably due to the fact that it is a commodity.

    12 mark:
    Supply for processed food shifts out, due to a subsidy.I drew the graph shifting out and lowering the price. Is said that this impacts demand for junk food as soya beans rice etc are healthier substituesbto to junk food, and by subsidising prices for healthier food decrease, incentivsing consumers of the decrease in p ice, hence demand for junk food decrease and raises its priceeven further. I also defined demand and supply.

    Please tellme how many marks I would get forneach of these, I am seriously anxious so I will be waiting. Please be as realistic as u can and don't give me higher marks, if you feel sympathy

    Thanks
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    (Original post by BobTheBuilder94)
    hmm, I think I said that demand extends but didnt really say that demand might descrease from fast food.
    Darn it.
    What do you think about the 25mark q?
    Looks good. I talked about subsidies on healthy foods and taxes on fatty foods.
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    Hey guys,
    I picked context 1 and for the 12 marker I put an inelastic demand curve as road use must be inelastic due to few substitutes of travel or use. then explained an increase in price is higher than increase in quantity demanded , then shows the going up from original equilibrium and showing size of revenue( pxq) getting bigger , but confused why did people talk about low ped cause context of question was about road use or fuel or something??? Did I read it wrong and how many marks can you lose???
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    (Original post by Oscar1238)
    Hey guys,
    I picked context 1 and for the 12 marker I put an inelastic demand curve as road use must be inelastic due to few substitutes of travel or use. then explained an increase in price is higher than increase in quantity demanded , then shows the going up from original equilibrium and showing size of revenue( pxq) getting bigger , but confused why did people talk about low ped cause context of question was about road use or fuel or something??? Did I read it wrong and how many marks can you lose???
    I too did an inelastic demand curve but said that its inelastic at peak times so at peak times (like it said in the extract), the tax will bring in a lot of revenue however when demand is elastic, revenue is < what it could have been
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    Ahhh damn it forgot that , oh well how many marks would i have lost - did 2 definitions - diagram but only really inelastic effect???
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    (Original post by Oscar1238)
    Ahhh damn it forgot that , oh well how many marks would i have lost - did 2 definitions - diagram but only really inelastic effect???
    Thats what i put, the positive cross elasticity is low, therefore they are not good substitutes hence its inelastic. I did 2 definition, a diagram with inelastic demand and just really talked about the how the inelastic effect mean there will be more revenue
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    What I notice a lot of people are missing on MARGINAL private cost, is that it is not simply costs to the firm and the consumer. It is the added cost of producing one more of a good to them, eg, if I wanted to produce 101 cars instead of 100, the added cost to the firm and the consumer of producing that extra car would be the marginal private cost. I expect simply defining private cost would get you 3 or 4 marks, with 5 marks only being gained by adding the one more part
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    I have the Exam paper if anyone wants it
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    (Original post by Sitrix)
    I have the Exam paper if anyone wants it
    Yes please, thanks
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    (Original post by Sitrix)
    I have the Exam paper if anyone wants it
    Here they are



    Sent from Samsung Galaxy S3
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    (Original post by Sitrix)
    I have the Exam paper if anyone wants it
    And more

    Sent from Samsung Galaxy S3
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    (Original post by Sitrix)
    And more

    Sent from Samsung Galaxy S3
    Thanks mate.
    How did you find the paper and what context did you do.
    And how did you get the paper?
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    (Original post by Hi, How are you ?)
    Thanks mate.
    How did you find the paper and what context did you do.
    And how did you get the paper?
    I found the paper was pretty easy. I did the Marginal Private Cost question
    I got hold of the paper and took photos of it. I'm sure everyone's got hold of it too.

    P.S. Like for Support!
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    Well the paper has been put up, that's good. Any chance of someone putting an unofficial mark scheme?

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    now unofficial mark scheme please!
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    (Original post by Koolio)
    Well the paper has been put up, that's good. Any chance of someone putting an unofficial mark scheme?

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    I would later if no one does. But I don't have time until the weekend anyway
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    I think they were only a few "C" answers in the MC, but please can someone make an unofficial mark scheme?
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    What was the answer to 5? was it over producing a merit good or subsidies?
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    I got overproducing a merit good
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    Couldn't believe the multiple choice, I remember looking at the front of the exam paper to see if it wasn't an old paper! So many repetitive questions!
 
 
 
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