Skip to content
MathsGenie logo
Open app

Course home

  1. A Level
  3. Economics AQA
  5. Question bank

1.5 Perfect competition, imperfectly competitive markets and monopoly

EasyMediumHard
1234567891011121314151617181920212223242526272829303132333435363738394041424344454647
Question 5

Which one of the following combinations, A, B, C or D, is most likely to increase a firm's monopoly power in a market?

Switching costs for consumersAbsolute value of price elasticity of demand (∣PED∣\vert{}PED\vert{}∣PED∣)
ADecreaseFalls
BIncreaseFalls
CIncreaseRises
DDecreaseRises

Switching costs: Decrease; Absolute value of ∣PED∣|PED|∣PED∣: Falls

Switching costs: Increase; Absolute value of ∣PED∣|PED|∣PED∣: Falls

Switching costs: Increase; Absolute value of ∣PED∣|PED|∣PED∣: Rises

Switching costs: Decrease; Absolute value of ∣PED∣|PED|∣PED∣: Rises

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