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    (Original post by BirdIsWord)
    Idk. If it makes you feel better I only did 6 lines on oligopoly as i ran out of time.
    In section 2 essay 1 I only spoke about monopoly and its efficiency, consumer and producer surplus, branding and unique product,... Do you think I will fail that question because I only wrote about monopolies? or because monopolies is a way of concentrated market it would still be right?
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    (Original post by BirdIsWord)
    The question was asking why PC is seen as efficient.



    Yes, there is no dynamic efficiency in the long or short run.
    I don't see why we were disagreeing then?

    Is it because you think I should not have given reasons as to why perfect competition might not be productively efficient by saying how there would be no static efficiency from economies of scale, or dynamic efficiency due to a lack of supernormal profits?

    Do you understand what I mean?
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    (Original post by SGS1998)
    In section 2 essay 1 I only spoke about monopoly and its efficiency, consumer and producer surplus, branding and unique product,... Do you think I will fail that question because I only wrote about monopolies? or because monopolies is a way of concentrated market it would still be right?
    Really depends how much you wrote tbh. I filled the answer booklet + an extra page.
    As long as what you wrote was good, you should be fine. I'd definitely say not mentioning oligopoly was risky though. There's a reason it said 'and concentrated markets'
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    (Original post by Caius Filimon)
    I don't see why we were disagreeing then?

    Is it because you think I should not have given reasons as to why perfect competition might not be productively efficient by saying how there would be no static efficiency from economies of scale, or dynamic efficiency due to a lack of supernormal profits?

    Do you understand what I mean?
    Ah i got confused. I thought you were this guy. My bad.

    (Original post by Ghost12345)
    Do you think it was necessary to talk about the other types of efficiency even though it only talked about allocative efficiency? I didn't
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    [QUOTE=BirdIsWord;65995885]The question was asking why PC is seen as efficient.

    it was asking why it's allocatively efficient
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    [QUOTE=Ghost12345;65996307]
    (Original post by BirdIsWord)
    The question was asking why PC is seen as efficient.

    it was asking why it's allocatively efficient
    Rip. Can someone confirm this?
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    [QUOTE=Ghost12345;65996307]
    (Original post by BirdIsWord)
    The question was asking why PC is seen as efficient.

    it was asking why it's allocatively efficient
    ^

    Although, tbh, I've seen some mark schemes giving examples of logic trains of thought on issues that weren't actually directly answering the question. So I'd say that people would still mark productively efficient, together with reasons as to why the perfect competition model does not mean efficiency in either of the two, even though the question asked specifically why it showed efficiency and not inefficiency.

    Hope you understand what I'm getting at.
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    (Original post by BirdIsWord)
    Really depends how much you wrote tbh. I filled the answer booklet + an extra page.
    As long as what you wrote was good, you should be fine. I'd definitely say not mentioning oligopoly was risky though. There's a reason it said 'and concentrated markets'
    Well I think you won't lose many marks, maybe a few..but it did specify monopoly power, so I think it was more based on monopoly.


    Posted from TSR Mobile
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    [QUOTE=BirdIsWord;65996385]
    (Original post by Ghost12345)

    Rip. Can someone confirm this?
    Yep, but read my previous comment. Shouldn't be as rippy tbh.
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    (Original post by Anonymous_18)
    Well I think you won't lose many marks, maybe a few..but it did specify monopoly power, so I think it was more based on monopoly.


    Posted from TSR Mobile
    It said Monopoly power AND concentrated markets.
    Why would it say concentrated markets if it only wanted you to mention oligopoly?
    Either way, 95% of my essay was on Monopoly. Like i said, I only wrote like 6 lines on oligopoly.
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    [QUOTE=Caius Filimon;65996467]
    (Original post by BirdIsWord)

    Yep, but read my previous comment. Shouldn't be as rippy tbh.
    Im so certain it said ECONOMICALLY not allocatively though..
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    (Original post by BirdIsWord)
    Really depends how much you wrote tbh. I filled the answer booklet + an extra page.
    As long as what you wrote was good, you should be fine. I'd definitely say not mentioning oligopoly was risky though. There's a reason it said 'and concentrated markets'
    Yeah i know, I got very nervous and I messed up, but hopefully I will still pick up some marks since I wrote so much about it. Thank you
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    [QUOTE=BirdIsWord;65996587]
    (Original post by Caius Filimon)

    Im so certain it said ECONOMICALLY not allocatively though..
    I really don't remember it as being remotely close to economically. I know I was fretting about writing two pages for that POS of a question as I knew it specified allocatively (so only in terms of people's wants being satisfied, not the minimization of average costs :/)

    But then again, would you not say they'll give a lot of leeway in terms of things to be mentioned? As long as related, they should reward trains of thought... right?
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    (Original post by SGS1998)
    Yeah i know, I got very nervous and I messed up, but hopefully I will still pick up some marks since I wrote so much about it. Thank you
    What was the wording of the 15 marker?

    [QUOTE=Caius Filimon;65996693]
    (Original post by BirdIsWord)

    I really don't remember it as being remotely close to economically. I know I was fretting about writing two pages for that POS of a question as I knew it specified allocatively (so only in terms of people's wants being satisfied, not the minimization of average costs :/)

    But then again, would you not say they'll give a lot of leeway in terms of things to be mentioned? As long as related, they should reward trains of thought... right?
    **** fam you got me worried now
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    [QUOTE=BirdIsWord;65996587]
    (Original post by Caius Filimon)

    Im so certain it said ECONOMICALLY not allocatively though..
    It said allocatively not economically...
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    [QUOTE=Ghost12345;65996749]
    (Original post by BirdIsWord)

    It said allocatively not economically...
    ok whatever
    I got my definitions + diagram + analysis so it should be at least 10 anyways.
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    [QUOTE=BirdIsWord;65996741]What was the wording of the 15 marker?

    (Original post by Caius Filimon)

    **** fam you got me worried now
    Soz m9, but again, they'll still give marks. Ask your teacher please (I go to a **** school so I might not have much success with my microecon teacher...) and ask her if my assumption would be correct.
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    (Original post by BirdIsWord)
    Uhh you should have at least mentioned Productive and Allocative man
    i mentioned all the efficiencies but didnt mention the LR OR SR
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    (Original post by Jamyes)
    i mentioned all the efficiencies but didnt mention the LR OR SR
    What was the wording of the question?
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    (Original post by BirdIsWord)
    It said Monopoly power AND concentrated markets.
    Why would it say concentrated markets if it only wanted you to mention oligopoly?
    Either way, 95% of my essay was on Monopoly. Like i said, I only wrote like 6 lines on oligopoly.
    I thought concentrated markets was talking about perfect competition not oligopolies
 
 
 
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