A-LevelEconomicsMarket Structures / MonopolyOct/Nov 2017Paper 3 Q91 Mark
Many public utilities can be described as 'natural' monopolies. Which statement best describes the situation leading to a 'natural' monopoly? A There are high fixed costs and falling average costs over all outputs demanded. B There are legal restrictions on new entrants. C A single firm controls the supply of raw materials. D The firm has a patent on an essential process.
✓ Correct Answer
The correct answer is —. This question tests the candidate's understanding of market structures / monopoly within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep