A-LevelEconomicsMicroeconomics: Market StructuresMay/June 2018Paper 3 Q121 Mark
An airline sells seats at $100 each three months before a flight, at $150 each one month before the flight and at $200 each the day before the flight. What describes this type of market behaviour by the firm? A limit pricing to deter entry in an imperfect market B price discrimination by a monopoly supplier C price leadership by an oligopolist D pricing where price equals average cost under perfect competition
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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