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Edexcel Economics: Unit 3 Business Economics and Economic Efficiency (June 2014) EC03 Watch

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    What are the types of collusion? ?
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    (Original post by rathani278)
    What are the types of collusion? ?
    1. Tacit collusion: Firms cooperate in secret and there is unspoken agreement between firms. E.g. Supermarkets charging the same price for some basic goods.

    2. Over collusion: There is spoken agreement between firms, Doesn't have to be legal agreement, just needs to be spoken about by someone from the firms colluding. E.g. OPEC, although it is a legal cartel
    P.s. Cartel = groups of firms colluding together

    Both types of collusion are illegal and can lead to fines etc etc...
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    Hi. Any predictions for what may come up tomorrow for 12 and 16 markers based on whats come up recently? Cheere
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    Can someone say from what they know of previous years or something what the grade boundaries in terms of raw marks are, as in 100 ums = ?/7290 ums = ?/72 80 ums = ?/72

    Also this might sound daft but for graphs do they need to be drawn in black pen?

    Answers appreciated


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    When they ask to asses methods of regulations should we mention price capping ,performance targets or rate of return or can we also mention fines? Im just a bit confused confused with that the Competion Commission really does ? I thought it was only imposing fines or blocking merges but Im not sure
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    Hello Guys,

    Here are some analysis and evaluation points on contestability, mergers, collusion and non pricing strategies. I have got these from threads in 2012 and compressed them into a word format.
    Also definitions!

    Hope it helps!
    Attached Images
  1. File Type: pdf definitions.pdf (175.3 KB, 306 views)
  2. Attached Files
  3. File Type: docx Economics Unit 3 Analysis and Evaluation points.docx (269.4 KB, 309 views)
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    (Original post by alikorkmaz)
    Hello Guys,

    Here are some analysis and evaluation points on contestability, mergers, collusion and non pricing strategies. I have got these from threads in 2012 and compressed them into a word format.
    Also definitions!

    Hope it helps!
    This is awesome thank you I was looking for some decent definitions
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    (Original post by GrandMasterChe)
    Can someone say from what they know of previous years or something what the grade boundaries in terms of raw marks are, as in 100 ums = ?/7290 ums = ?/72 80 ums = ?/72

    Also this might sound daft but for graphs do they need to be drawn in black pen?

    Answers appreciated


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    You can draw in pencil but would have to go over in black pen because scripts are scanned.
    This unit has 72 marks and you can obtain a maximum of 80 UMS

    It is roughly:
    55/72 for an A
    62/72 for an A*
    69/72 for 100 UMS
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    (Original post by tigerz)
    This is awesome thank you I was looking for some decent definitions
    You're welcome, glad it helped! Good luck for tomorrow!
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    (Original post by alikorkmaz)
    Hello Guys,

    Here are some analysis and evaluation points on contestability, mergers, collusion and non pricing strategies. I have got these from threads in 2012 and compressed them into a word format.
    Also definitions!

    Hope it helps!
    This is great, thank you! i wish i had found this thread earlier i'm pretty much ready tbh it's up to edexcel as to what they throw at us.

    Also, could someone perhaps explain to me what RPI-x and RPI+K means, i understand theyr'e price capping the firms so they price no more above inflation but what exactly does efficiency mean?
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    (Original post by alikorkmaz)
    You're welcome, glad it helped! Good luck for tomorrow!
    Thank you more worried about unit 4
    • Thread Starter
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    (Original post by Spartz)
    This is great, thank you! i wish i had found this thread earlier i'm pretty much ready tbh it's up to edexcel as to what they throw at us.

    Also, could someone perhaps explain to me what RPI-x and RPI+K means, i understand theyr'e price capping the firms so they price no more above inflation but what exactly does efficiency mean?

    Hey, I wrote a thorough explanation on price capping on the first page of the thread, maybe that will help you out Good luck!
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    (Original post by alikorkmaz)
    Hello Guys,

    Here are some analysis and evaluation points on contestability, mergers, collusion and non pricing strategies. I have got these from threads in 2012 and compressed them into a word format.
    Also definitions!

    Hope it helps!
    Thank you so much, I was really struggling with evaluation
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    Is there a difference between consumer surplus and consumer welfare?
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    (Original post by julie samaran)
    Is there a difference between consumer surplus and consumer welfare?
    I presume you just did the eggs question? Hahah.

    I believe it's just how much satisfaction consumers receive from their purchase. It's intangible.
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    What's the difference between consumer surplus and consumer welfare and how can welfare be affected?
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    In the Jan 2013 paper, Q10c is: With reference to an industry of your choice, examine strategies firms might use to increase consumer loyalty. Use game theory to support your answer.

    I have looked at the examiners report to see how game theory might be linked to consumer loyalty but the person gets the marks even though they haven't seemed to link it.

    Does anyone have any ideas of how to link game theory to consumer loyalty?

    Many thanks.


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    How does a merger actually improve alloc. and productive efficiency? doesnt it result in higher prices, so less of these efficiencies?

    And how would you illustrate effect of lower prices on a diagram for bringing allocat. and product. efficiency? Is it a shift of AC or how would you illustrate it?
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    (Original post by TheHenri)
    How does a merger actually improve alloc. and productive efficiency? doesnt it result in higher prices, so less of these efficiencies?

    And how would you illustrate effect of lower prices on a diagram for bringing allocat. and product. efficiency? Is it a shift of AC or how would you illustrate it?
    Well the higher price would be your evaluative point because the cost of the merger is very high which could lead to high prices. I don't know about it improving allocative and productive efficiency but I know that the merger can improve dynamic efficiency through cross subsidisation. I believe it wouldn't be either allocative or productively efficient due to them profit maximising
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    (Original post by Razina17)
    Well the higher price would be your evaluative point because the cost of the merger is very high which could lead to high prices. I don't know about it improving allocative and productive efficiency but I know that the merger can improve dynamic efficiency through cross subsidisation. I believe it wouldn't be either allocative or productively efficient due to them profit maximising
    data response or multiple choice first? Advice please.
 
 
 
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