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    (Original post by BBeyond)
    it said gas prices rose 18% or something? then what does the data infer
    Is that multiple choice? I remember there being one about inelastic demand of -0.6 and that an increase in price would cause the amount spent/revenues to increase but I can't seem to remember anything about British Gas?
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    (Original post by Wawasan)
    Is that multiple choice? I remember there being one about inelastic demand of -0.6 and that an increase in price would cause the amount spent/revenues to increase but I can't seem to remember anything about British Gas?
    yh it was aha, it said that they increased prices by 18% in the 2nd year and is an example of a monoply
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    (Original post by czj1997)
    what about the last mcq question on monopoly? the answers were like high prices lead to market failure, product differentiation has low barriers of entry and others i forgot.
    I think I picked "High prices lead to market failure"
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    The MCQ was quite hard this time, harder than any other papers I have seen anyway. What does anyone think grade boundaries will be like?

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    for context 1 25mark i wrote how the government can intervene by setting a max price which is below the market price so monopoly's cant abuse there market price by setting high price and i said how it benefits those on lower income as they be allowed to afford it then drew diagram and evaluation of how negative externalities being produced by monopolys as low income earners spend there money on gambling and may not have enough money left over for mortgages ect and said alot of other stuff for my evaluation but thats too long lool

    My second argument was more of leaving it to the market and how a monopoly my experience economies of scale and they may lower average costs and will benefit low income earners diagram evaluation

    im wondering if my arguments are valid for this 25mark cos im not too sure
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    Did context 1 25 marker:
    Basically talked about monopolies with a max price then did positives and negatives, then did neg ex and did taxes, then did positives and negative. Didn't talk about inequalities. Did i even answer the question as I didn't really write much about market forces apart from a very brief conclusion? Can anyone comment on how many marks I'd get for this?
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    (Original post by BBeyond)
    yh it was aha, it said that they increased prices by 18% in the 2nd year and is an example of a monoply
    It rings a bell - what were the available options if you can remember?
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    Does anyone remember what they got for question 3 on MPC? I got A
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    (Original post by Wawasan)
    It rings a bell - what were the available options if you can remember?
    tbh with you i have no idea i just remember writing d (something about high concentration)
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    (Original post by BBeyond)
    income positive price negative



    I would say 5
    Yessss

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    (Original post by BBeyond)
    it said gas prices rose 18% or something? then what does the data infer
    thats for the british gas question. i i dont know which option that was, does anyone know the write answer for that?
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    (Original post by BBeyond)
    tbh with you i have no idea i just remember writing d (something about high concentration)
    YES that's it!
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    I didn't have time to do a conclusion but tried to evaluate and give for and against government intervention at each point. Will I lose marks?

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    (Original post by Wawasan)
    YES that's it!
    you put D? solid man wasn't sure about that one
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    (Original post by BBeyond)
    you put D? solid man wasn't sure about that one
    By process of elimination, D!
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    (Original post by Wawasan)
    By process of elimination, D!
    thats exactly what i did lmao
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    (Original post by TJ23738)
    for context 1 25mark i wrote how the government can intervene by setting a max price which is below the market price so monopoly's cant abuse there market price by setting high price and i said how it benefits those on lower income as they be allowed to afford it then drew diagram and evaluation of how negative externalities being produced by monopolys as low income earners spend there money on gambling and may not have enough money left over for mortgages ect and said alot of other stuff for my evaluation but thats too long lool

    My second argument was more of leaving it to the market and how a monopoly my experience economies of scale and they may lower average costs and will benefit low income earners diagram evaluation

    im wondering if my arguments are valid for this 25mark cos im not too sure
    Relieved that someone did the same as me. Apart I probably wrote it out worse as I didn't really talk about inequalities. I personally don't think I've answered the question and left a very brief market forces conclusion as i was running out of time
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    (Original post by BBeyond)
    thats exactly what i did lmao
    Which context to you choose? I chose context 2 and the basis that the 12 mark question for Context 1 was...I dunno...something I hadn't came across before? :confused:
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    (Original post by Wawasan)
    Which context to you choose? I chose context 2 and the basis that the 12 mark question for Context 1 was...I dunno...something I hadn't came across before? :confused:
    I chose 1 on the basis that the 12 mark question for Context 2 was...I dunno...something I hadn't came across before?
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    (Original post by kathy2323)
    Did context 1 25 marker:
    Basically talked about monopolies with a max price then did positives and negatives, then did neg ex and did taxes, then did positives and negative. Didn't talk about inequalities. Did i even answer the question as I didn't really write much about market forces apart from a very brief conclusion? Can anyone comment on how many marks I'd get for this?
    its hard to say because it depends on how well your argument is. My friend last year done one good argument no second argument and a small conclusion and scored 12/25 which if you think about it isnt bad for having no second argument and a small conclusion (btw when i mean small i mean like 2 sentences)
 
 
 
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