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IB Economics HL 2.2.1 Law of Supply Questions

Practise explaining the positive price–quantity supplied relationship through profit margins, producer incentives and rising marginal costs in supply functions.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Explain why higher prices increase quantity supplied by raising profit margins and producer incentives.
  • Relate a positive price coefficient or rising marginal cost to an upward-sloping supply relationship.

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