Economics 9708 · AS & A Level · Utility and rational consumer behaviour

Utility and rational consumer behaviour — practice question

(a)[12]

Explain how the idea of the margin is used in consumer theory to derive a market demand curve.

(b)[13]

Discuss whether the use of margin is important for a firm in deciding its business objective.

Worked solution & mark scheme

This 25-mark question has a full step-by-step worked solution and mark scheme.