Quelpr
6 marksMarket Structure

CAPE Economics Unit 1 · 2015 · Paper 2 · Question 3(c)(i)

Illustrate, using a diagram, the profit-maximizing output and price for a monopolistic firm.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 3(a)(i)a)Define the term 'price discrimination'.[2 marks]
  2. 3(a)(i)b)Outline ONE form of price discrimination that may be used by a firm.[2 marks]
  3. 3(a)(ii)Outline TWO conditions that are necessary for price discrimination to occur.[4 marks]
  4. 3(a)(iii)Explain ONE reason why a firm would opt to apply price discrimination.[3 marks]
  5. 3(b)List TWO types of market structures that exist in CARICOM and give ONE example of EACH.[4 marks]
  6. 3(c)(ii)Analyse why a perfectly competitive firm is more efficient than a monopolistic firm.[4 marks]

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