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    the subsidies one, I talked about how it would be effective for wind farms in increasing supply/demand, but the emphasis on market failure as a result of production of electricity made me talk about neg. ext. as well
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    (Original post by marshy12345)
    how wrong was it to talk about negative externalities of production in the 20 mark?
    for subsidies it was positive wasnt it?
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    The market failure is caused by the underproduction of wind farm energy (sustainable energy), which is a good which creates positive externalities.

    However I doubt they will dock you any marks for talking about it. As long as you stated that the negative externalities were caused by the alternate ways of producing energy (not wind farms). And that the subsidy would hopefully lead to producers changing their factor resources from the 'bad' energy production, to using wind farms, as the subsidy acts as an incentive.
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    people ive spoken to said they talked about positive externalities due to it being wind farms and subsidies?
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    (Original post by Luiswright31)
    The market failure is caused by the underproduction of wind farms, which is a good which creates positive externalities.

    However I doubt they will dock you any marks for talking about it. As long as you stated that the negative externalities were caused by the alternate ways of producing energy (not wind farms). And that the subsidy would hopefully lead to producers changing their factor resources from the 'bad' energy production, to using wind farms, as the subsidy acts as an incentive.
    okay thankyou x
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    If anybody gets hold of an unofficial mark scheme for the multiple choice, please post it here! Only section im worried about as i didn't have time to double check my answers!
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    (Original post by marshy12345)
    people ive spoken to said they talked about positive externalities due to it being wind farms and subsidies?
    Yes you were required to talk about positive externalities. The market failure arises from the under production, and the subsidy aids to shift production/supply out to a more socially optimum level, where market failure is corrected.
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    (Original post by marshy12345)
    the subsidies one, I talked about how it would be effective for wind farms in increasing supply/demand, but the emphasis on market failure as a result of production of electricity made me talk about neg. ext. as well
    Ah yeah that sounds perfectly fine
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    I'm pretty sure the £4 tax one was 3, did anyone else get that? Also the allocative multiple choice one what did people get for that. Oh, and the one on capital, I put the cars for a taxi company
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    (Original post by I Didn't Revise)
    Unofficial Mark Scheme for Multiple Choice

    Quite a good website for mark schemes soon after papers if you have never seen it before.

    http://www.aquaticstoyourdoor.co.uk/tropical-fish/
    Thats a fish website...
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    (Original post by jordancohen)
    Thats a fish website...
    This dude trolling ignore him😂
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    (Original post by I Didn't Revise)
    Oh my bad sorry I thought this was the level 3 fishery exam forum (university of South Sudan). Sorry
    Gut wan.
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    For question f (government failure) , were you suppose to only talk about one type of government intervention?
    I talked about 4.
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    is the unofficial mark scheme out yet
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    For the 20 marker I talked about the negative externalities of production made from alternate sources of electricity such as fossil fuels and how the subsidy incentives firms to move into the market of wind farms.
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    (Original post by MasonFerro)
    For question f (government failure) , were you suppose to only talk about one type of government intervention?
    I talked about 4.
    There was a question on government failure?
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    (Original post by Chylz)
    For the 20 marker I talked about the negative externalities of production made from alternate sources of electricity such as fossil fuels and how the subsidy incentives firms to move into the market of wind farms.
    mentioned that and positive externalities.
    I mentioned about opportunity cost
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    What did everyone get for the £4 indirect multiple choice tax question? i put £1 as i worked the PED as elastic and therefore the producers could not afford to pass on the extra cost to the consumer
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    That question got me. Using point elasticity calculations, the PED was different dependant on what the price originally was, same with the PES. However no where in the question did it state what the price originally was. Therefore how could you work out which was greater out of PES and PED to work out what party pays what proportion of the tax? It seemed like that question would take too long to bother considering it was worth one mark.
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    (Original post by Luiswright31)
    That question got me. Using point elasticity calculations, the PED was different dependant on what the price originally was, same with the PES. However no where in the question did it state what the price originally was. Therefore how could you work out which was greater out of PES and PED to work out what party pays what proportion of the tax? It seemed like that question would take too long to bother considering it was worth one mark.
    It talked about the equilibrium price, and this was found on the table at something like £12, where quantity demanded = quantity supplied
 
 
 
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