A-LevelEconomicsThe price system and the microeconomy9708/31 · May/June 2018 · Q121 Mark

A firm changes its objective from maximising profit to producing at the allocatively efficient output. In which market structure must the firm operate for this to cause the least change in economic welfare? A monopolistic competition B monopoly C oligopoly D perfect competition

Mark scheme

Marking points from the official mark scheme (May/June 2018). 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, May/June 2018 Paper 3 Variant 1, question 12.

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