Hkcee 2010 Econ Paper 2 Q2 🆕 Top-Rated

Set ( Q_d = Q_s ). From demand: ( P = 100 - 2Q ). From supply: ( P = 20 + 3Q ). [ 100 - 2Q = 20 + 3Q ] [ 100 - 20 = 3Q + 2Q ] [ 80 = 5Q \implies Q_e = 16 \text tonnes ] Substitute into demand: ( P_e = 100 - 2(16) = 100 - 32 = 68 ).

This question focuses on —specifically, the effects of a price ceiling (maximum price) and a specific tax. Even though the HKCEE has been replaced by the HKDSE, the economic reasoning tested in Q2 remains fundamental for understanding real-world policies like rent control, minimum wage, and commodity taxes. hkcee 2010 econ paper 2 q2

Even if a firm provides a "free" sample, they use resources (labor, materials) that could have been used elsewhere. Therefore, it is an economic good. Why Students Struggled Set ( Q_d = Q_s )

In the 2010 paper, Question 2 likely presented a scenario where a resource (such as clean air, sea water, or a specific gift) is discussed to determine if it is a "free good" or an "economic good." [ 100 - 2Q = 20 + 3Q