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3 marksMarket Structures

CSEC Economics · May/June 2010 · Paper 2 · Question 1(d)

Using a demand and supply diagram, ILLUSTRATE the impact on equilibrium quantity of a telephone company moving from a monopoly situation to one with other competitors in the market.

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Other parts of this question

  1. 1(a)Define the term 'ceteris paribus'.[2 marks]
  2. 1(b)List THREE determinants of the supply of a commodity, OTHER than its price.[3 marks]
  3. 1(c)Explain THREE benefits that consumers may derive from the introduction of new service providers in the telecommunications industry.[6 marks]
  4. 1(e)With reference to the diagram drawn at (d) above, what impact would the movement from a monopoly situation to a competitive market have on the equilibrium…[1 mark]

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