Mark scheme Q1 microeconomics (unit 2.5-2.6)
This exam style question was written for the new syllabus and can be completed as a homework or in class written task. Section B questions now require candidates to explicitly apply their response to a real world situation. 1. (a) Explain how the burden of the tax paid by consumers and producers is determined by the price elasticity for a good or service. [10 marks] Responses for this question may include the...