DP Economics
Question 19M.3.HL.TZ0.1a
| Date | May 2019 | Marks available | [Maximum mark: 1] | Reference code | 19M.3.HL.TZ0.1a |
| Level | HL | Paper | 3 | Time zone | TZ0 |
| Command term | Identify | Question number | a | Adapted from | N/A |
a.
[Maximum mark: 1]
19M.3.HL.TZ0.1a
Note that widgets are an imaginary product.
In Country X, the supply and demand for widgets are given by the functions
Qs = − 45 + 4.5P
Qd = 180 − 3P
where P is the price per widget in dollars ($), Qs is the quantity of widgets supplied (thousands per year) and Qd is the quantity of widgets demanded (thousands per year).
The supply (S) and demand (D) functions are represented in Figure 1.
(a)
Identify the slope of the supply curve.
[1]
Markscheme
Slope = 4.5 OR + 4.5 (or 1/4.5 or 2/9)
An answer of 4.5 or + 4.5 (or 1/4.5 or 2/9) without any working is sufficient for [1].
Examiners report
Most candidates were able to identify the slope. A significant minority identified as 2/9 or 0.22, which was rewarded given the generally accepted convention.
