Question 20N.3.HL.TZ0.e.iii
| Date | November 2020 | Marks available | [Maximum mark: 2] | Reference code | 20N.3.HL.TZ0.e.iii |
| Level | HL | Paper | 3 | Time zone | TZ0 |
| Command term | Calculate | Question number | e.iii | Adapted from | N/A |
Country B imposes a tariff on rice imports, which is illustrated on Figure 7.
Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.
[2]
−0.5 (6.5 + 8) × 1.5 OR 21.125 − 32
Any valid working is sufficient for [1]
= −$10.875 million
OR
−$10.88 million
NB Either answer is acceptable.
An answer of a decrease of 10.875 or 10.88 without workings is sufficient for [1].
OFR applies. If answer to (d)(i) is $7, then 0.5 (6.5 + 5) × 1.5 = $8.625 million OR 21.125 − 12.5 = $8.625 million
OFR also applies, if the initial CS is calculated incorrectly in (d)(ii).
For full marks to be awarded, the response must provide valid working with correct units. However, superfluous units may be ignored.
NB If a candidate is penalized by [1] for missing units and missing negative sign, then they should not be penalized again in (e)(iv) for missing units.
As for part (ii), a significant number of candidates made careless errors. Additionally, many candidates neglected to specify a decrease in consumer surplus.
