DP Economics
Question 23M.3.HL.TZ0.1aii
| Date | May 2023 | Marks available | [Maximum mark: 2] | Reference code | 23M.3.HL.TZ0.1aii |
| Level | HL | Paper | 3 | Time zone | TZ0 |
| Command term | Calculate | Question number | ii | Adapted from | N/A |
ii.
[Maximum mark: 2]
23M.3.HL.TZ0.1aii
(ii)
Calculate the loss in consumer surplus resulting from the increase in the price of capsicums from NZ$18 per kg to NZ$24 per kg.
[2]
Markscheme
(0.5 × 40 000 (40 – 24)) – (0.5 × 55 000 (40 – 18))
OR
Change in CS = 0.5 (55 000 + 40 000) × 6
Any valid working is sufficient for [1]
= $285 000
An answer of 285 or 285 000 (or –285 or –285 000) without any valid working is sufficient for [1].
For full marks to be awarded, the response must provide valid working and include correct units.
Examiners report
Candidates generally performed the calculation correctly, either by calculating the initial and final CS or by calculating the area of the relevant trapezium. However, it was very common to see responses which did not express the answer in 000s and/or $.
