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Economics · 2018 · May · Paper 3 · HL · Question paper

EconomicsQuestion paper2018HLMay

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This question paper is listed under Economics in the 2018 examination archive. Its catalogue level is HL. The catalogue session is May. The information below helps you identify the document before opening the complete PDF. Subject, year and session labels come from the archive catalogue; the original cover remains the reference if a label differs. A file is not automatically suitable for your current syllabus simply because its subject name matches.

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20EP01 [Personal identifier removed] Higher level Paper 3 20 pages Wednesday 2 May 2018 (morning) 1 hour Instructions to candidates • Write your session number in the boxes above. • You are permitted access to a calculator for this paper. • Do not open this examination paper until instructed to do so. • Answer two questions. • Answers must be written within the answer boxes provided. • Unless otherwise stated in the question, all numerical answers must be given exactly or correct to two decimal places. • You must show all your working. • The maximum mark for this examination paper is [50 marks]. © International Baccalaureate Organization 2018 M18/3/ECONO/ HP3/ENG/TZ0/XX 2218 – 5107 Answer two questions. Each question is worth [25 marks]. Answers must be written within the answer boxes provided. 1. Note that widgets and pidgets are imaginary products. In the country of Burbia, the demand and supply of widgets are given by the functions Qd = 249 - 4P Qs = 150 + 14P where Qd is the quantity demanded per month, Qs is the quantity supplied per month and P is the price per widget in dollars ($). (a) Calculate the equilibrium price and quantity per month. [2] .......................................................................... .......................................................................... .......................................................................... .......................................................................... (b) Calculate the excess demand/excess supply (state which of these) at a price of $8.50. [2] .......................................................................... .......................................................................... .......................................................................... .......................................................................... (c) Calculate the price at which excess demand of 18 widgets would result. [2] .......................................................................... .......................................................................... ..........................................................................
File information
Subject
Economics
Document type
Question paper
Year
2018
Session
May
Level
HL
Paper
3
Examination zone
Not labelled in the archive
Language
English
File size
589 KB
Pages
20
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