I did the oligopoly question in part two. But did the climate one in question 1 and think ive done proper **** in that part. Did anyone else do it? The question had little microeconomic relevance i thought?
I thought it was a hard paper. Gb predictions? How many for an A do you guys think?
Last econ3 I did in Jan12 the grade boundary for an A 80ums was 59/80 and I thought it was a really nasty paper, especially the data response, so compared to this one I think this was easier so I'm guessing the grade boundaries will be higher than 59 for an A?
Also I've looked at previous grade boundaries and theyre all extremely similar
For the oligopoly question, i just realised it said government policies. I did all my points based on the Competition commission introducing the policy so i had compulsory breaking up/price cieling/nationalisation/regulation. Are these valid reasons or is it 'not' government policy?
For the oligopoly question, i just realised it said government policies. I did all my points based on the Competition commission introducing the policy so i had compulsory breaking up/price cieling/nationalisation/regulation. Are these valid reasons or is it 'not' government policy?
I outlined why an oligopoly was bad through collusion and such.
Then said it can be regulated through government bodies and oligopolies are fined 10% annual turnover for anti-competitive behaviour
Also said how subsidies can be to reduce barriers to entry, making the market more contestable.
Cost benefit was the easiest question, i reckon i got full marks, for evaluation i said it should be carried out indepedently, its assumptions may be varied etc, so decent question, oligopoly wasnt bad as well
Did anyone else find that there wasn't much to write for the 15 marker oligopoly? I only wrote about one and a half A4 pages
I didn't even do that, i defined it. Said with uncertainty about because they are similar and price wars and elasticity and all that stuff then with interdepence talked about collusion and why they would do so.
Did anyone else find that there wasn't much to write for the 15 marker oligopoly? I only wrote about one and a half A4 pages
I found this, I have fairly small writing though, then ended up scribbling down half a page of rubbish at the end (I finished with about half an hour to go).
I sat this in January and got 76UMS but there were reasons for that... this seemed a bit easier, but still not great!!
I didn't even do that, i defined it. Said with uncertainty about because they are similar and price wars and elasticity and all that stuff then with interdepence talked about collusion and why they would do so.
There was so little to write about it! I don't understand why they put it as a 15 marker
For the 15 marker, Kinked demand curve= rigid prices etc. Talk about how its inelastic and elastic, and how the state of competitive inderpendence will mean they rely on reactions of competing firms. Then a little on collusion. For the 25 marker, i wrote about a page and a half on why oligopolies can cause problems, like collusion fixed pricing etc. Then wrote how you should increase contestability, Use competition comission etc, like they have done with BA and virgin in the past. Then chucked in regulation and max price, so firms cant make supernomal profits.
I think most of that should be fine , on the other hand i failed section A