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1.5 Perfect competition, imperfectly competitive markets and monopoly

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Question 8

Context B: The UK Electric Vehicle Charging Sector

Extract B

Figure 1: Average cost per kWh for a public rapid DC charge (50kW+), January 2025

Charging NetworkCost per kWh (p)
EcoVolt45.0p
SparkNet48.5p
JuiceLoop52.0p
VoltSpark58.0p
ElectroDrive63.5p
ChargeGrid69.0p
PowerPulse74.0p

Figure 2: Market shares of public rapid charging networks in the UK, 2017–2025 (%)

YearChargeGridVoltSparkElectroDriveEcoVoltIndependent/Others
201742261895
20193924171010
20213522161116
20233220151122
20252918141227

Explain how the data in Extract B (Figure 2) show that the UK public rapid charging network market is competitive.

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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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