A-LevelEconomicsMarket Structures / OligopolyOct/Nov 2017Paper 3 Q111 Mark
An industry consists of a dominant firm, which acts as a price leader, and a large number of small firms. Which statement about the profit-maximising output of the small firms is correct? A Average cost is equal to average revenue. B Average cost is minimised. C Marginal cost is equal to price. D Marginal revenue is zero.
✓ Correct Answer
The correct answer is —. This question tests the candidate's understanding of market structures / oligopoly 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