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4 marksMarket Structures

CSEC Economics · May/June 2007 · Paper 2 · Question 4(c)

Describe TWO benefits that will result in moving from a monopoly to a perfectly competitive market in the telecommunications industry.

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Other parts of this question

  1. 4(a)Define the term 'market'.[2 marks]
  2. 4(b)List THREE reasons why markets fail.[3 marks]
  3. 4(d)(i)Describe the market situation at a price of $8.[2 marks]
  4. 4(d)(ii)The government imposes a fixed price of $6 on Product X. With the aid of a diagram, discuss the effects of this action.[4 marks]

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