IB Economics HL 2.11.2 Rational producer behaviour Question Bank
Practise IB Economics HL 2.11.2 by applying rational producer behaviour concepts to exam-style questions.
- Syllabus
- First assessment 2022
- Course
- Economics HL
- Level
- HL
Exam points
- identify the relevant model, concept or evidence
- apply the correct subject framework to the question
- evaluate the result using clear evidence and subject terminology
2.11.2 (HL)—Rational producer behaviour question 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
where Qd is the quantity demanded per month, Qs is the quantity supplied per month and P is the price per widget in dollars ($).
Question (a)
(a)
Draw and label the marginal revenue (MR) curve for the 2018 Football World Cup final.
[ 1 ]
Question (b)
(b)
(I) Using the diagram on page 6 and your answers to parts (j) and (k), explain how the organizers could achieve their goal of profit maximisation.
[ 4 ]
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