Quelpr
3 marksMarket Structure

CAPE Economics Unit 1 · 2013 · Paper 2 · Question 3(c)(i)

Compare monopolistic competition and perfect competition in terms of the way they compete with other businesses.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 3(a)Outline FOUR major characteristics of perfect competition.[8 marks]
  2. 3(b)Compare the characteristics outlined in (a) with those of monopolistic competition.[8 marks]
  3. 3(c)(ii)Compare monopolistic competition and perfect competition in terms of their profit in the short run and long run.[3 marks]
  4. 3(c)(iii)Compare monopolistic competition and perfect competition in terms of the efficiency with which they use resources.[3 marks]

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