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9708_s02_qp_3

9708_s02_qp_3

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Published by: roukaiya_peerkhan on Aug 05, 2010
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This question paper consists of 12 printed pages.
SP (KN/SLC) S23100/2 ©CIE 2002
[Turn overCAMBRIDGE INTERNATIONAL EXAMINATIONSGeneral Certificate of Education Advanced Level
ECONOMICS
9708/3
PAPER 3 Multiple Choice (Extension)
MAY/JUNESESSION 2002
1hour
Additional materials:Multiple choice answer sheetSoft clean eraserSoft pencil (type B or HB is recommended)
TIME
1 hour
INSTRUCTIONS TO CANDIDATESDo not open this booklet until you are told to do so.
Write your name, Centre number and candidate number on the answer sheet in the spaces providedunless this has already been done for you.There are
thirty
questions in this paper. Answer
all
questions. For each question there are fourpossible answers,
A
,
B
,
C
and
D
. Choose the
one
you consider correct and record your choice in
softpencil
on the separate answer sheet.
Read very carefully the instructions on the answer sheet.INFORMATION FOR CANDIDATES
Each correct answer will score one mark. A mark will not be deducted for a wrong answer.Any rough working should be done in this booklet.
http://www.xtremepapers.net
 
2
9708/3/M/J/02
1
Which condition defines productive efficiency?
A
All factors of production are fully employed.
B
All firms are producing at their profit maximising levels of output.
C
The output of all goods is produced at minimum cost.
D
There are no further opportunities for substituting capital for labour.
2
The diagram shows a firm’s cost and revenue curves.At which level of output will the firm be making only normal profit?marginal costaverage costaverage revenuemarginal revenuerevenue/costquantityO
ABCD
 
3
9708/3/M/J/02
[Turn over3
The table shows the marginal utility derived by a consumer who devotes the whole of his weeklyincome of $32 to two goods X and Y, whose unit prices are $2 and $4 respectively.In order to maximise his utility, which quantities of X and Y should the consumer purchase?unitmarginal utilitymarginal utilityof X (units)of Y (units)19282826372446225520641873168214XY
A
27
B
46
C
64
D
83

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