Economics a level eduqas paper 1

man that payoff matrix mixed with elasticities mcq threw me off a bit. I kinda expected there to be quite a few 8 markers though because the 2020 paper was literally just 8 markers and the mcqs. Not looking forward to the next two papers though...

I felt like the whole paper was really difficult in comparison to other past papers. Despite revising every topic a lot, most of the 8 markets seemed hard apart from the last one about indirect taxes on the meat industry.

What diagram did you use for the sainsburys question? I used a kinked demand curve because the supermarket industry is an oligopoly but im not sure if its right.

what was the sainsbury's question again? literally can't remember even though it was yesterday.

It was something like, what would happen to sainsuburys market share if they switched to an objective of either sales maximisation or revenue maximisation. Can’t remember if it was sales or revenue.

Oh that one! I drew a costs and revenue diagram and showed the change from profit maximisation to sales maximisation. Now that I'm thinking about it, a kinked demand curve might have been useful to draw because going to sales maximisation does lower the price to an extent. Oof hopefully I didn't miss any marks for that.

They said to draw a cost revenue diagram not a kin ked demand curve... furthermore the kinked demand curve doesn't show lower prices and higher output at sales maximisation