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2.5 Competition

2.5 Competition

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Question 4

Several supermarkets cut prices after one rival introduces a discount range. What does this best demonstrate?

[1]
A

Firms in an oligopoly may react to competitors' decisions

B

A monopoly always charges the lowest possible price

C

Competition prevents firms earning revenue

D

Consumers cannot influence producers

Markscheme

2.5 Competition Questions

  1. GCSE
  2. /Economics
  3. /2.5 Competition

28 exam-style questions on OCR GCSE Economics 2.5 Competition, covering 2.5.1 Why producers compete, 2.5.2 How competition affects price, 2.5.3 Economic impact of competition, and 2.5.4 Monopoly and oligopoly. Each one has a worked solution and a mark scheme showing where the marks go.

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