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1.5 Perfect competition, imperfectly competitive markets and monopoly

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Question 12

Which of the following developments is most likely to increase the monopoly power of an incumbent firm operating in a highly concentrated market?

A

A decrease in the advertising-to-sales ratio across the industry

B

An increase in the price elasticity of demand for the firm's product

C

The introduction of a 'right to repair' regulation allowing third-party servicing of the firm's products

D

The successful execution of exclusive loyalty contracts that penalise distributors who stock rival brands

Markscheme

1.5 Perfect competition, imperfectly competitive markets and monopoly Questions

  1. A Level
  2. /Economics
  3. /1.5 Perfect competition, imperfectly competitive markets and monopoly

136 exam-style questions on AQA A Level Economics 1.5 Perfect competition, imperfectly competitive markets and monopoly, covering 1.5.1 Market structures, 1.5.2 The objectives of firms, 1.5.3 Perfect competition, 1.5.4 Monopolistic competition (A-level only), 1.5.5 Oligopoly (A-level only), 1.5.6 Monopoly and monopoly power, 1.5.7 Price discrimination (A-level only), 1.5.8 The dynamics of competition and competitive market processes, 1.5.9 Contestable and non-contestable markets (A-level only), 1.5.10 Market structure, static efficiency, dynamic efficiency and resource allocation (A-level only), and 1.5.11 Consumer and producer surplus (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.

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