Economics 9708/42 March 2022 | Cambridge AS Level Past Papers With Mark Scheme

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1. Identifying fixed and variable costs in the New York yellow taxi industry and analyzing the impact of cross-subsidization within the sector.

2. Evaluating whether the New York taxi market exhibits monopolistic characteristics and the effects of local government interventions in 2018 on taxi owners’ profits.

3. Exploring dynamic efficiency, its occurrence in market structures, and policies to address allocative inefficiencies caused by car usage in cities.

4. Using indifference curves and budget lines to analyze rational consumer decisions and assessing the price elasticity of demand for inferior versus normal goods.

5. Discussing labor market dynamics in perfectly competitive conditions and debating the pros and cons of national minimum wage policies.

6. Evaluating the reliance on primary product exports in developing countries as a factor limiting economic growth and standards of living.

7. Analyzing the impact of interest rate changes on output and employment through the circular flow of income and potential conflicts between fixed exchange rates and inflation-reducing policies.