Paper 3 question on subsidy and taxes
IB Economics Paper 3 includes two compulsory questions. This is a sample Paper 3 question. The time allowed for Paper 3 is 105 minutes, so students should spend 52.5 minutes on each question. This Paper 3 style question is on subsidy and taxes. The following table shows the quantity supplied and demanded for a product. Price $ Supply Demand 5 3,500 13,500 10 6,000 11,000 15 8,500 8,500 20 11,000 6,000 25 13,500 3,500...