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AQA A-level Economics new 7136 - 06, 13 & 19 Jun 2017 [Exam Discussion] Watch

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    (Original post by ItsRoger)
    For the context 1 9 marker I wrote that royal mail would produce where MC=MR for profit maximisation and that the universal post service requiring them to deliver 6 days a week would increase their output to where MC=AR so their allocatively efficient and to optimize consumer surplus? Can anybody tell me if I'm right or wrong???!!!
    This seems like a good answer to me.
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    (Original post by cathartic)
    Same I just kept repeating myself in regards to it increasing efficiency and competition


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    Same but I forgot to talk about productive efficiency so annoyed man I didn't even know how to evaluate well but hopefully examiners disagree and like ours
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    For the context 1 9 marker I talked about variable costs rising because of wages and how they have to travel all the country etc, and explained how this will reduce the abnormal profits. But on my diagram I didn't shift the ATC/MC curves at all, I only showed reducing abnormal profit by simply moving their equilibrium further to the right. Anyone know if this could still work or whether my diagram just won't support it?
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    (Original post by Ssssssssaas)
    So if I drew the wrong diagram but my analysis was correct I should be fine?
    I did the same, I asked my teacher afterwards and she said Its likely to be level 3, perhaps low level 4 if my evaluation is very good. Don't worry too much if us 2 did, loads of others probably did the same thing :P
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    (Original post by NotKidding)
    You don't lose marks for not having a diagram, you potentially gain marks for having one. It just helps illustrating what you're saying.
    Really? I was told you always need one is that definitely true because whether I did well or not depends on that 25 marker
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    (Original post by Gemmamcconville)
    On context A the first case study, what did everyone get for the 9 marker about the monopoly diagram for Royal Mail and how the obligations affect costs and price.I put how, having to deliver 6 days a week to multiple locations across the UK could increase AC, so showed this on a monopoly diagram shifting the AC upwards, and the abnormal profit being shrunk. Is this wrong?

    I did the same!
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    (Original post by Imogensmith123)
    I think I did the same to I did a negative externality diagram isntead of demerit diagram but then when I applied it I said it shows the demerit good which has negative externalities because I got myself confused, would that be acceptable
    if you done a negative externality in consumption diagram you should be right , where MPB line is above the MSB line
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    For context 1 9 marker q I drew normal monopoly and defined + mentioned characteristic of it but my proper answer was wrong cos I said costs go up but theyre offset by increased revenue so profits stay the same. Would I get maybe 5 marks for that?
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    (Original post by WilliamHaycocks)
    This seems like a good answer to me.
    Its feels good getting some positive feedback, thanks dude
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    For context 1 9 marker, is it okay to draw two diagrams, one with a higher ATC curve than the other so less abnormal profit?
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    (Original post by WilliamHaycocks)
    It is true that there are no specific marks for diagrams on the new mark schemes. In the old exam papers you used to get 2 marks for a correct diagram but this is no longer the case. The wrong diagram may weaken your analysis a bit but if you talked about externalities in consumption and used this to answer the question it should not be too damaging.
    Exactly what I did, surely if we are still analysing consumption then we will just not gain marks for a wrong diagram.
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    How did people answer the 25 marker for Context 1 - I am semi worried. This is what I did, see if you can impart wisdom, I would just like to know if I was on the right lines:

    - I said there is a market failure in the allocative inefficiency of the firm
    - then drew a diagram to show the point of allocative efficiency, the welfare loss caused by the monopoly from restricting output/ increasing prices, and pointed out the consumer surplus lost in favour of company profits; indication of exploitation of consumers
    - talked about how privatisation reduces x-inefficiency, and forces firms to be efficient
    - talked about how PFIs enable less tax in the short run, and how they enable the construction of good facilities as the gov do not have to pay it back immediately
    - then said that the PFIs result in higher taxes for future generations, privatisation can result in privatised monopolies which can be expensive to regulate, and how the PFIs lead to higher costs in the long run as the gov will eventually have to pay it back
    - Evaluation being that it is good in a short run but bad in the long run
    - mentioned deregulation as something you can use with privatisation - and then deaded that idea by mentioning the disadvantages; firms have no incentive to be productively efficient again

    Was this on the right lines?
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    (Original post by Gemmamcconville)
    On context A the first case study, what did everyone get for the 9 marker about the monopoly diagram for Royal Mail and how the obligations affect costs and price.I put how, having to deliver 6 days a week to multiple locations across the UK could increase AC, so showed this on a monopoly diagram shifting the AC upwards, and the abnormal profit being shrunk. Is this wrong?
    That's what I said. And then I said that smaller Super normal profits would reduce dynamic efficiency as they can't develop new technologies like tablets for postman etc.
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    For the 9 marker I drew a D and s curve diagram shifting the S curve to the left . Would this be right or not? And I wrote about how costs may go up at the start but overtime the firm can find new ways and become efficient and therefore shifted the S curve to the right again but by a bit. Is this completely wrong ?
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    In theory, you could get full marks without a diagram. In practice usually, good answers (L5) will have a few diagrams correctly labelled and applied to the question. If you look at the descriptor it shows "few if any errors"
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    (Original post by danboulton99)
    For context 1 9 marker, is it okay to draw two diagrams, one with a higher ATC curve than the other so less abnormal profit?
    That's what confused me a bit , I done the monopolistic competition diagram where the ATC curve is higher , but didn't know whether I should've used the normal monopoly diagram
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    Context 1, 9 marker: I set the scene by drawing a monopoly diagram earning supernormal profit and said how the profits won't be competed away in the long run (didn't really know how to link it into the diagram too well), then wrote about how because of the use of things like email and online banks statements, demand is falling for letters, so revenue is falling (shift in AR, didn't draw it but think I wrote that it would happen), so they don't have retained profits, so they can't invest in capital to be more efficient and cut costs, and because of inflationary pressure, costs may increase due to higher wages, so costs will either stay the same or increase and profit will decrease. That sound like a plausible way to do it?
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    thank me later - let's forget this exam and move onto macroeconomics
    here are some 25 markers from old spec and my teacher to get the brain rolling:

    Using the data and your knowledge of economics, evaluate the likely impact on the UK economy of a number of EU countries attempting to reduce their public sector debt at the same time. (jun 15) 25

    Explain how the process of quantitative easing in the UK might increase the rate of inflation. (june 15) 15

    Assess the importance of a floating exchange rate to a country trying to achieve a period of macroeconomic stability. (june 14 ) 25

    Evaluate the advantages and disadvantages of protectionist measures by developing countries!
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    (Original post by Kaasi)
    Look inside of any aqa economics mark-schemes you moron. You have to draw a diagram which is awarded only a certain amount of marks. Answers are limited without it. Also, witht he wrong diagram, the analysis would be incorrect. So there is no hope for that peasant
    Yes but you are looking at mark schemes for exams set under the old specification where they did award specific things like diagrams and definitions Under the new specification they don't do that They mark on levels So its the analysis which counts.Not including a diagram is not going to lose marks but does make it harder to gain analysis marks
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    (Original post by Starmock99)
    For the 9 marker I drew a D and s curve diagram shifting the S curve to the left . Would this be right or not? And I wrote about how costs may go up at the start but overtime the firm can find new ways and become efficient and therefore shifted the S curve to the right again but by a bit. Is this completely wrong ?
    It said to specifically draw a 'monopoly diagram' pal
 
 
 
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