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A-LevelEconomicsThe price system and the microeconomy9708/32 · Feb/Mar 2018 · Q111 Mark

A firm operates in an imperfectly competitive market. The prices of its products are determined by the maximum price each consumer is willing to pay. What describes this pricing method? A kinked demand curve B limit pricing C price discrimination D price leadership

Mark scheme

Marking points from the official mark scheme (Feb/Mar 2018). The mark or mark type is shown in brackets.

  1. [1] C

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About this question

Topic
The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source
A-Level Economics, Feb/Mar 2018 Paper 3 Variant 2, question 11.

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