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3.4.2 Perfect competition

Medium
123
Question 1

Which one of the following will exist in the short run if a perfectly competitive firm, Velocity Bikes, makes a supernormal profit?

A

Allocative efficiency and productive efficiency

B

Allocative efficiency and productive inefficiency

C

Allocative inefficiency and productive efficiency

D

Allocative inefficiency and productive inefficiency

Markscheme

3.4.2 Perfect competition Questions

  1. A Level
  2. /Economics
  3. /3.4.2 Perfect competition

3 exam-style questions on Edexcel A A Level Economics 3.4.2 Perfect competition. Each one has a worked solution and a mark scheme showing where the marks go.

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