'Many economists argue that rapid technological change, particularly the integration of generative Artificial Intelligence (AI) and automated cloud-based infrastructure, has fundamentally redefined production costs and entry barriers across modern industries.'
Evaluate the view that technological change, such as the deployment of generative AI and cloud infrastructure, inevitably drives modern markets towards a high degree of contestability, or whether it instead accelerates the concentration of monopoly power among a few dominant technology giants.
156 exam-style questions on AQA A Level Economics 1.4 Production, costs and revenue, covering 1.4.1 Production and productivity, 1.4.2 Specialisation, division of labour and exchange, 1.4.3 The law of diminishing returns and returns to scale (A-level only), 1.4.4 Costs of production, 1.4.5 Economies and diseconomies of scale, 1.4.6 Marginal, average and total revenue, 1.4.7 Profit, and 1.4.8 Technological change (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.