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O-LevelEconomicsThe allocation of resources2281/11 · May/June 2018 · Q121 Mark

Which characteristic can exist both in monopoly and in perfect competition?

Afreedom of entry

Bmany buyers

Cmany sellers

Dperfectly elastic demand curve

✓ Correct answer

B: many buyers

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2018 Paper 1 Variant 1, question 12.

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