A-LevelEconomicsThe price system and the microeconomy9708/32 · Oct/Nov 2017 · Q131 Mark

What explains the kinked demand curve model of price rigidity in oligopoly? A collusion between all firms in the industry in the setting of prices B the assumption that a single firm acts as price leader for all firms in the industry C the individual firm's expectations about other firms' responses to its price changes D the presence of barriers to the entry of new firms into the industry

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2017). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, Oct/Nov 2017 Paper 3 Variant 2, question 13.

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