Economics 9708 · AS & A Level · Long-run costs and economies of scale

Long-run costs and economies of scale — practice question

The table presents the labour market for an economy in four separate years. In which year did excess demand occur in the labour market?

  • Aworking population 19; unemployment rate (millions) 1.0; job vacancies (thousands) 180
  • Bworking population 19; unemployment rate (millions) 2.0; job vacancies (thousands) 80
  • Cworking population 20; unemployment rate (millions) 1.1; job vacancies (thousands) 240
  • Dworking population 20; unemployment rate (millions) 1.5; job vacancies (thousands) 100

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI