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A2 OCR Economics F583 2016

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Reply 140
Is this valid for qu 4:

When trying to correct monopsony market failure, government may implement NMW too high and therefore cause less employment
Reply 141
It was a weird paper. Monopoly, calculation, economic rent and barriers to entry were easy. Rest were hard, market failure seriously?!
Reply 142
F584 guys got an easy paper FFS
Original post by flairs
Is this valid for qu 4:

When trying to correct monopsony market failure, government may implement NMW too high and therefore cause less employment


didnt it want it in terms of the extract..?
Original post by WillRose
econ 15.jpg
that then just analysed, the 15 marker was the worst bit of the paper imo


it was the WORST! not enough to write for a 15 marker at all or was it just me who ran out after a page?
Original post by SilverHorsey
it was the WORST! not enough to write for a 15 marker at all or was it just me who ran out after a page?


yeah about one and a half sheets of a4

wrote more for the 10 marker
(edited 7 years ago)
Original post by WillRose
yeah about one and a half sheets of a4

wrote more for the 10 marker


which ten marker?!?!!1 **** i think i mightve missed a question
Original post by SilverHorsey
abuse of monopoly power, sky and bt being the 2 dominant firms and not allowing other new firms to enter the market, you?

yes i did


A monopoly is 100% market share, these were two firms in the market and so is an oligopoly/duopoly
Original post by WillRose
didnt it want it in terms of the extract..?


No, where did it say that?
Original post by Lenners
What Essays did you do? I did Q4 myself: Analyse the effect of labour market failure on labour markets, and comment on how government intervention doesn't always correct labour market failure.

I was praying for this. Such a broad and open question.

I did the same, what were your points for the 15 marker, what examples did you use?
Original post by Piers456
A monopoly is 100% market share, these were two firms in the market and so is an oligopoly/duopoly


it depends what definition of monopoly youre using, and as the question didnt state it being a pure monopoly you can just as well write for an ao2 point even that in the context of legal/dominant monopolies (25% and 40% of MS respectively) etc etc.
Original post by Piers456
No, where did it say that?


im thinking of somethin else sry
Reply 152
I thought Monopoly is 25% of the market share..
Original post by Pato1
I thought Monopoly is 25% of the market share..


it is dw, the main definition i.e. the legal monopoly definition is 25 or over so youre okay
Original post by SilverHorsey
it depends what definition of monopoly youre using, and as the question didnt state it being a pure monopoly you can just as well write for an ao2 point even that in the context of legal/dominant monopolies (25% and 40% of MS respectively) etc etc.


I see where you're coming from but if it's a comment question surely it wants you to argue that it is a monopoly then argue that it isn't a monopoly maybe?
Idk tbh, what did you right to counter the statement/evaluate?
Reply 155
Isn't the sports broadcasting industry more of a Oligopoly? BT Sport/ESPN/Sky Sports/BBC Sports/ITV Sports the big boys
Original post by Piers456
I see where you're coming from but if it's a comment question surely it wants you to argue that it is a monopoly then argue that it isn't a monopoly maybe?
Idk tbh, what did you right to counter the statement/evaluate?


yeah, counterarguments were

1) oligopolistic characteristics with BBC/ITV/Virgin and Setanta in previous years broadcasting sports

2) not a single supplier of the product

3) not impossible to enter the market so therefore not a monopoly as the high barriers to entry/exit are still penetrable

not great but i didnt revise for any of my exams apart from 3 hours before each one so had to fluff some stuff, you?
Original post by SilverHorsey
yeah, counterarguments were

1) oligopolistic characteristics with BBC/ITV/Virgin and Setanta in previous years broadcasting sports

2) not a single supplier of the product

3) not impossible to enter the market so therefore not a monopoly as the high barriers to entry/exit are still penetrable

not great but i didnt revise for any of my exams apart from 3 hours before each one so had to fluff some stuff, you?


Practically what i wrote 👍👍
Original post by Pato1
Isn't the sports broadcasting industry more of a Oligopoly? BT Sport/ESPN/Sky Sports/BBC Sports/ITV Sports the big boys


yeah pretty much, is that what you wrote/
Original post by Piers456
Practically what i wrote 👍👍


maybe it isnt all dire for me, having said that the 15 marker on MC and MR was theworst Q ive ever answered

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