O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2025 · Q161 Mark

If a very competitive market becomes a monopoly, what will be likely to increase and what will be likely to decrease?

Abarriers to entry; economies of scale

Bconsumer choice; prices

Clong-run profits; competition

Doutput; market share

✓ Correct answer

C: long-run profits; competition

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2025 Paper 1 Variant 2, question 16.

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