Jacob Obrecht
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Good afternoon all, I was hoping for some support with Q4 on the Jan 2013 Unit 1 paper, which can be found at

https://pmt.physicsandmathstutor.com...%20A-level.pdf

The answer is 'B', and my rationale is that at a price level of £15 quantity supplied will be 15 million units and quantity demanded will be 5 million units, leading to a surplus in supply of 10 million units. For each unit, the government will effectively pay £10 (buy each at £15 but sell for £5). £10 * 10 million = £100 million.

Please could somebody verify that this is the correct chain of reasoning? Thank you in advance for your help
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Jacob Obrecht
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Sorry, I meant Q4 on the Jan 2012 paper,

https://pmt.physicsandmathstutor.com...%20A-level.pdf
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