DP Economics
Question 23M.3.HL.TZ0.vii
| Date | May 2023 | Marks available | [Maximum mark: 2] | Reference code | 23M.3.HL.TZ0.vii |
| Level | HL | Paper | 3 | Time zone | TZ0 |
| Command term | Calculate | Question number | vii | Adapted from | N/A |
vii.
[Maximum mark: 2]
23M.3.HL.TZ0.vii
Using the data provided in Figure 2, calculate the profit earned by these firms if they are operating at the profit-maximizing level of output in the market for cheese.
[2]
Markscheme
Profit = (26 – 18) 80
Any valid working is sufficient for [1].
= $640 000
An answer of 640 or 640 000 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
Generally well-answered, although with a concerning number of unit errors (ignoring the $000s).
