Economics 9708 · AS & A Level · Maximum and minimum prices

Maximum and minimum prices — practice question

Which statement is not an instance of government failure?

  • Agovernment intervention leading to a less efficient allocation of resources
  • Bgovernment intervention leading to a net loss of economic welfare
  • Cgovernment intervention leading to an increase in consumer surplus
  • Dgovernment intervention leading to social costs exceeding social benefits

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