: Determine which is the "highest-valued" and which is the "second-highest-valued" (the next best alternative).
Many students mistakenly solved using ( Q_d = Q_s ) but then plugged into the wrong equation. Always check that ( P ) is consistent. Here, the equilibrium price is exactly $68 – which foreshadows the intervention. hkcee 2010 econ paper 2 q2
Economics Level: HKCEE (Secondary 5) Paper: Paper 2 (Multiple Choice Questions) Topic: Demand and Supply / Market Intervention : Determine which is the "highest-valued" and which