A-LevelEconomicsThe price system and the microeconomy9708/31 · May/June 2018 · Q91 Mark

An imperfectly competitive firm was making supernormal profits. The following year it made normal profit with no change in output. How could this situation be shown on a diagram for an imperfectly competitive firm? A by a movement to the left of the average revenue curve B by a movement to the right of the marginal revenue curve C by a shift to the right of the marginal cost curve D by an upward shift in the average cost curve

Mark scheme

Marking points from the official mark scheme (May/June 2018). The mark or mark type is shown in brackets.

On Oracle Prep you can write or photograph your own answer and have it marked by AI against this mark scheme, with feedback on what you missed.

Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2018 Paper 3 Variant 1, question 9.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content