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CAPE Economics Unit 1 · 2006 · Paper 1 · Question 6(b)

In a market there are many firms producing identical goods. Explain whether this is a case of monopolistic competition or perfect competition.

The mark scheme is shown once you've answered.

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Other parts of this question

  1. 6(a)Define the term 'market structure'.[2 marks]
  2. 6(c)In which market structure are there price leaders and price followers?[2 marks]

More practice: the rest of this paper · more Market Structure questions · all CAPE Economics Unit 1 past papers