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.
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
🔒
Unlock the Examiner's Analysis
Sign up for free to reveal the full examiner report, trap analysis, and mark scheme breakdown for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep