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

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    Can we discuss specific questions in detail yet? or do we have to wait 24 hours?
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    (Original post by hannah1258)
    hey, for question 10c is it not right to put internet as inelastic because of the increased demand and therefore setting the price higher made sense and then highstreet shops as elastic?
    Thats how I explained why it would be inelastic though im doubting it now
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    (Original post by aminkaram)
    Can we discuss specific questions in detail yet? or do we have to wait 24 hours?
    no we have to wait 10 years I think and your first born
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    (Original post by dextermati)
    I had same points but I I also put gvt tax revenues... The question just stated for benefits but it wasnt specific to the firm

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    I talked about govt tax revenues too.
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    (Original post by lorcan116)
    Would it be viable to talk about just non-price strategies for the 16 marker? As price strategies may not be sensible because it's in oligopoly. I did 3 examples which were separate enough from each other.
    I did the same. Didn't feel that price strategies were fairly sensible given the scenario that we were given. Though, my non-price strategies arguments seemed really strong
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    For 9b i wrote the length of period of a patent, lack of finance for research and development and lowered contestability as evaluation. would that be okay?
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    (Original post by AdzyN)
    I did the same. Didn't feel that price strategies were fairly sensible given the scenario that we were given. Though, my non-price strategies arguments seemed really strong
    It's a lot easier to evaluate pricing strategies in Oligopolies. I.e. using kinked demand curve, price wars etc. I used Limit pricing, Predatory pricing, marketing, branding and collusion and had heaps of stuff to evaluate with.
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    (Original post by Trust Me I'm Asian)
    It's a lot easier to evaluate pricing strategies in Oligopolies. I.e. using kinked demand curve, price wars etc. I used Limit pricing, Predatory pricing, marketing, branding and collusion and had heaps of stuff to evaluate with.
    I did question 10. There wasn't much emphasis on market structures there
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    (Original post by jvatsk)
    For 9b i wrote the length of period of a patent, lack of finance for research and development and lowered contestability as evaluation. would that be okay?
    Length of the patent is definitely one, lowered contestability could be one? I talked about x-inefficiency along with the length of the patent. I don't think you'll get marks for lack of finance though, that's not really a drawback of a patent.
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    (Original post by AdzyN)
    I did question 10. There wasn't much emphasis on market structures there
    Oh aha, I thought you were talking about the 16 marker in question 9. They sound quite similar.
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    I know its probably wrong but...did anyone put horizontal integration for no1? Cos the way the question was worded made it sound like the same stage production. Would be nice to see the actual question again
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    (Original post by Trust Me I'm Asian)
    Oh aha, I thought you were talking about the 16 marker in question 9. They sound quite similar.
    Yeah they did. Though our one required strategies essential for high retail outlets to compete with online retailers e.g. unique offerings of service, advertising, etc
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    (Original post by AdzyN)
    Yeah they did. Though our one required strategies essential for high retail outlets to compete with online retailers e.g. unique offerings of service, advertising, etc
    What did u write for shut down point ques?
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    (Original post by Trilo9y)
    What did u write for shut down point ques?
    Made brief reference to concept being defined as a firm not being able to cover its variable costs, and then I just related it to the text
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    (Original post by AdzyN)
    Made brief reference to concept being defined as a firm not being able to cover its variable costs, and then I just related it to the text
    oh k - i mentioned SR and LR too lol - wud tht get credit?
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    (Original post by shabba-ranks)
    I know its probably wrong but...did anyone put horizontal integration for no1? Cos the way the question was worded made it sound like the same stage production. Would be nice to see the actual question again
    The answer was according to many backward vertical integration.
    A few others and myself thought it was forward vertical integration.

    The wording wasn't great I agree with you but there is no point crying over spilt milk - it's gone and done now. :/
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    (Original post by 4.2.0)
    no we have to wait 10 years I think and your first born
    Hahahahahahahahahaha. You sir are so funny:rolleyes::eek:
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    Can we discuss the section A questions about the football club and the PFI? For the PFI I answered reduced borrowing, but others have made me unsure what the actual question was? Was I correct?
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    (Original post by Cobra64)
    Can we discuss the section A questions about the football club and the PFI? For the PFI I answered reduced borrowing, but others have made me unsure what the actual question was? Was I correct?
    You are correct, PFI is not included as governmental borrowing but governmental expenditure. PFI acts like a lease on a building/facility which is often more affordable in the short term but more expensive overall in the long run.
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    For patent question, i put that it protects the firm and allows them to establish themselves in a market, as they created a new niche,

    However we dont know how long patents last (for evaluation)

    Is this correct?
 
 
 
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