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A-LevelEconomicsThe price system and the microeconomy9708/33 · Oct/Nov 2017 · Q121 Mark

A firm wishes to avoid attracting competition from new entrants. It charges the maximum price that is consistent with this aim.

12In which type of market does this firm operate? A a contestable market B a monopolistically competitive market C a monopsonistic market D a perfectly competitive market[1]

Mark scheme

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

[1] A

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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, Oct/Nov 2017 Paper 3 Variant 3, question 12.

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