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

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    (Original post by peter qwert)
    can someone post the answers to the multiple choices , thanks.
    I've done them previously but I'll do them again. I'm not 100% sure if they're right so people need to confirm. Also not sure about the order.

    1) Backwards vertical integration
    2) Perfect competition means AR=MR for all output
    3) Profit satisficing (Not sure on this)
    4) A decrease in contestability
    5) Sales maximisation occurs at AC=AR so 4 units.
    6) Oligopoly, the answer was A, not sure what it was though.
    7) Monopoly at output V it was allocatively efficient
    8) The government do not need to immediately borrow money. (Not sure on this either)
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    (Original post by Dilzo999)
    I've done them previously but I'll do them again. I'm not 100% sure if they're right so people need to confirm. Also not sure about the order.

    1) Backwards vertical integration
    2) Perfect competition means AR=MR for all output
    3) Profit satisficing (Not sure on this)
    4) A decrease in contestability
    5) Sales maximisation occurs at AC=AR so 4 units.
    6) Oligopoly, the answer was A, not sure what it was though.
    7) Monopoly at output V it was allocatively efficient
    8) The government do not need to immediately borrow money. (Not sure on this either)

    you got 4 , 5 and 7 wrong.
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    what did everyone write for 9a about the market structure?
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    (Original post by peter qwert)
    you got 4 , 5 and 7 wrong.
    Yup, goodbye university place.
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    (Original post by Dilzo999)
    Yup, goodbye university place.
    youll still get marks for defintions etc.
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    what did you put for 4 5 and 7
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    (Original post by rathani278)
    I wrote that it could merge with another manufacturer outside US so that it can lower its average cost and remain in the market. .. is it ok??
    I thought the twelve marker asked for reasons why it shut down? I'm sure you'll do alright though so don't fret!!
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    (Original post by Dilzo999)
    I've done them previously but I'll do them again. I'm not 100% sure if they're right so people need to confirm. Also not sure about the order.

    1) Backwards vertical integration
    2) Perfect competition means AR=MR for all output
    3) Profit satisficing (Not sure on this)
    4) A decrease in contestability
    5) Sales maximisation occurs at AC=AR so 4 units.
    6) Oligopoly, the answer was A, not sure what it was though.
    7) Monopoly at output V it was allocatively efficient
    8) The government do not need to immediately borrow money. (Not sure on this either)
    The thing is for the first one I think, if I remember correctly they said something like "professional milk seller" which makes it feel like they're going to sell the other companies products for them?
    I put backward vertical and changed it in the final 5 mins to forward vertical. So annoyed.
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    (Original post by peter qwert)
    you got 4 , 5 and 7 wrong.
    what did you write for 4, 5 and 7?
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    (Original post by TheHenri)
    Did you guys also all get forward vertical? I thought it was a milk supplier merging with milk seller so forward:/ but everyone had backward.
    I put vertical forwards i didn't read it properly i guess
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    I got CECDACEA. Who remembers the order of the questions?
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    (Original post by Dilzo999)
    I've done them previously but I'll do them again. I'm not 100% sure if they're right so people need to confirm. Also not sure about the order.

    1) Backwards vertical integration
    2) Perfect competition means AR=MR for all output
    3) Profit satisficing (Not sure on this)
    4) A decrease in contestability
    5) Sales maximisation occurs at AC=AR so 4 units.
    6) Oligopoly, the answer was A, not sure what it was though.
    7) Monopoly at output V it was allocatively efficient
    8) The government do not need to immediately borrow money. (Not sure on this either)
    (Original post by peter qwert)
    you got 4 , 5 and 7 wrong.
    How is 4,5 ,7 wrong?? What was he meant to write?

    (Original post by Dilzo999)
    Yup, goodbye university place.
    (Original post by Layla Gepghry)
    what did you write for 4, 5 and 7?
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    Also do you get marks for defining forward vertical even though it seems like backward vertical was the right answer?
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    (Original post by Layla Gepghry)
    what did you write for 4, 5 and 7?
    4 was external economies of scale and 7 was mr equals zero.Also 8 was that private comapnies have experience.
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    (Original post by peter qwert)
    4 was external economies of scale and 7 was mr equals zero.Also 8 was that private comapnies have experience.
    Thats not right i dont think mate
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    (Original post by TRR)
    Thats not right i dont think mate
    Agreed ^
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    (Original post by TRR)
    Thats not right i dont think mate
    so what is?
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    Sorry but you are fully wrong...
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    (Original post by peter qwert)
    so what is?

    (Original post by [COLOR=#333333)
    Dilzo999] [/COLOR]I've done them previously but I'll do them again. I'm not 100% sure if they're right so people need to confirm. Also not sure about the order.

    1) Backwards vertical integration
    2) Perfect competition means AR=MR for all output
    3) Profit satisficing (Not sure on this)
    4) A decrease in contestability
    5) Sales maximisation occurs at AC=AR so 4 units.
    6) Oligopoly, the answer was A, not sure what it was though.
    7) Monopoly at output V it was allocatively efficient
    8) The government do not need to immediately borrow money. (Not sure on this either)
    Think he's right
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    (Original post by peter qwert)
    so what is?
    4 was a decrease in contestability from the potential merger
    7 was allocative efficiency since Price=Mariginal cost
    8 was 100% A
 
 
 
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