Quelpr
2 marksMarket Structure

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

Define the term 'price discrimination'.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 3(a)(i)b)Outline ONE form of price discrimination that may be used by a firm.[2 marks]
  2. 3(a)(ii)Outline TWO conditions that are necessary for price discrimination to occur.[4 marks]
  3. 3(a)(iii)Explain ONE reason why a firm would opt to apply price discrimination.[3 marks]
  4. 3(b)List TWO types of market structures that exist in CARICOM and give ONE example of EACH.[4 marks]
  5. 3(c)(i)Illustrate, using a diagram, the profit-maximizing output and price for a monopolistic firm.[6 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