edexcel 2014 jan economics unit 3 paper

2589 Words Apr 17th, 2014 11 Pages
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Pearson Edexcel

Centre Number

Candidate Number

International
Advanced Level

Economics
Unit 3: Business Economics and Economic Efficiency
Friday 17 January 2014 – Morning
Time: 1 hour 30 minutes
You do not need any other materials.

Paper Reference

6ECA3/01
Total Marks

Instructions

black ink or
• Usein the boxesball-point pen. page with your name, at the top of this
• Fill number and candidate number. centre in
A and one
• Answer all the questionstheSection provided question from Section B. the questions in spaces • Answermay be more space than you need.
– there

Information

The total for • The marksmarkeachthis paper is 72.shown in brackets
…show more content…
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(Total for Question 1 = 4 marks)

2

*P43238A0232*

2 A firm selling microchips is operating under conditions of perfect competition.
The market price is below the firm’s average variable costs. The immediate response of this firm will be to
(1)
A raise its price
B shut down
C reduce output and cut its price
D keep its price and output unchanged
E

cut its price and increase output
Answer
Explanation
(3)

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