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    For using examples on Monopoly, could you use Apple?
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    (Original post by marioandluigi)
    How can they possibly ask us a 25 marker on price discrimination? Does anybody know? There's a good amount of concepts and eval for it but I'm not necessarily sure if I could write 25 marks worth. 😳😳😳


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    Would most likely be a question on whether PD is desirable or not. You could talk about losses in Consumer surplus by using a 1st/2nd degree pd diagram.

    You could also talk about the benefits for consumers in how the supernormal profits pd alllows the firm to make can be used R and D

    Can also talk about third degree PD- efficient allocation of resources
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    (Original post by marioandluigi)
    How can they possibly ask us a 25 marker on price discrimination? Does anybody know? There's a good amount of concepts and eval for it but I'm not necessarily sure if I could write 25 marks worth. 😳😳😳


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    assess the view that PD is always good for the producer but bad for the consumer.
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    how would i evaluate property rights???
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    (Original post by jakalcock)
    For using examples on Monopoly, could you use Apple?
    idk maybe as a working monopoly, but if you're talking about a pure monopoly something like the london underground would be better, or local water supplier if you want an example of a natural monopoly
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    (Original post by charanjittt)
    how would i evaluate property rights???
    Not sure, I've only ever used it for 15 marker questions where eval is not required. Never used it for a 25 marker
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    (Original post by charanjittt)
    how would i evaluate property rights???

    Well could simply argue people
    Are still going to pollute regardless if you put property rights on a bit of land e.c.t

    Not really much you could say I guess


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    Hello,

    What is likely to come up?

    I haven't revised at all and am self teaching so forgot the content I learnt.

    Want to cherry pick ultimately

    Please advise
    Thanks
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    (Original post by deenattireco)
    Hello,

    What is likely to come up?

    I haven't revised at all and am self teaching so forgot the content I learnt.

    Want to cherry pick ultimately

    Please advise
    Thanks
    same im ****ed for tomorrow and i find it hard understanding what the question is asking due to the way its phrased can someone help me with this please
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    (Original post by frankiestorey)
    idk maybe as a working monopoly, but if you're talking about a pure monopoly something like the london underground would be better, or local water supplier if you want an example of a natural monopoly
    Yeah thats what i was wondering because theres the definition of 25% or more of market share is a monopoly. Apple has 41% but its more oligopoly i thought. Cheers
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    (Original post by BirdIsWord)
    Can someone hit me up with an exemplar monopoly v PC essay, cheers
    Monopoly VS PC is all about measuring efficiency from each:

    Start by defining monopoly, perfect comp, (price maker vs price taker etc) explanations of both in terms of conduct and structure.

    On the one hand - pros of monopoly such as economies of scale, lower costs may be passed on to consumers as lower prices and thus increasing consumer welfare.
    HOWEVER lack of competition can result in X-INEFFICIENCY for a monopoly, cancelling out any efficiency gains from EoS.
    secondly, monopoly firms may be good for R&D and are needed for dynamic efficiency gains (consumer welfare increased via quality products)
    HOWEVER May simply just keep profits for shareholders - depending on objectives of the firm. Also, barriers to entry make firms complacent so may not want to reinvent - no incentives

    On the other hand - pros of PC, high consumer surplus from lower prices and higher output as a result of productive efficiency and allocative efficiency
    HOWEVER, lack of profits for reinvestment may mean goods/services are of poor quality and undifferentiated products may be 'boring for consumers'

    Evaluation for this could be as follows:
    Perfectly competitive firms in a real world economy cease to exist and is simply a yardstick against other types of market in terms of efficiency and competition.
    Monopoly may actually be better for consumers in a modern day society which is changing so vastly in terms of technology e.g. medical treatments getting more advanced so need firms like GlaksosmithKlyne (can't spell that) to be investing in research for new drugs. Nevertheless, competition is needed in some markets such as commodity markets to keep prices low so that the suppy chain is not creating cost-push inflation.
    DEPENDS on how a firm is acting- a monopoly may be beneficial but may need constant regulation blah blah blah

    that is just how I would attempt it... anybody please feel free to correct me if i am wrong :')
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    (Original post by Anymorefor123)
    Well could simply argue people
    Are still going to pollute regardless if you put property rights on a bit of land e.c.t

    Not really much you could say I guess


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    Need for International contribution - the UK is a relatively small nation in size so us preventing pollution will have minimal effects compared to tackling say, China's economy who pollute at very high levels
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    According to my tutor they've scrapped CBA (cost benefit analysis) for the new specification so I reckon they may give that one final go in the Essay questions.. hate that!
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    (Original post by HCLx)
    According to my tutor they've scrapped CBA (cost benefit analysis) for the new specification so I reckon they may give that one final go in the Essay questions.. hate that!
    same im defo not gonna do that and im scared for the exam how you feeling
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    (Original post by Jamyes)
    same im defo not gonna do that and im scared for the exam how you feeling
    I may avoid it too... find it impossible to write 25 marks worth for CBA!!!
    I feel ok... bit nervous because I left sixth form 2 years ago and gone back to resit my Econ alevel, I've pretty much taught myself and have no idea what I've been getting on past papers . How about you
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    What do you guys think will come up for context? I'm going to try and avoid labour market and distiribution of income now but I'm thinking competition policy or contestable markets or externalities/government intervention? :/

    Also I really don't understand the 1st degree price discrimination diagram? it looks like all the others to me how would you analyse it?
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    (Original post by HCLx)
    I may avoid it too... find it impossible to write 25 marks worth for CBA!!!
    I feel ok... bit nervous because I left sixth form 2 years ago and gone back to resit my Econ alevel, I've pretty much taught myself and have no idea what I've been getting on past papers . How about you
    honestly not feeling too great about it but im going through some model past papers, the bit i find tricky is sometimes understanding what the question is asking as the way its phrased sometimes isn't so straight forward. im also not good at maths so i usually get 2 or 3/5 in the first question which a silly way to drop marks
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    (Original post by Jamyes)
    honestly not feeling too great about it but im going through some model past papers, the bit i find tricky is sometimes understanding what the question is asking as the way its phrased sometimes isn't so straight forward. im also not good at maths so i usually get 2 or 3/5 in the first question which a silly way to drop marks
    do you happen to have the model answers from June 2013 onwards? are you talking about the Peter Cramp ones?
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    (Original post by Kitkat5)
    do you happen to have the model answers from June 2013 onwards? are you talking about the Peter Cramp ones?
    yeah i have model answers from previous students that went to my school but unfortunately i doubt i would be allowed to show it to you without their permission,sorry.
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    (Original post by Jamyes)
    honestly not feeling too great about it but im going through some model past papers, the bit i find tricky is sometimes understanding what the question is asking as the way its phrased sometimes isn't so straight forward. im also not good at maths so i usually get 2 or 3/5 in the first question which a silly way to drop marks
    past papers are good to do but i know what you mean - it feels like there is no structure to exam questions at all like in AS. Just go online and look through all the answers on the MS for every paper, I'd spend time planning some essays rather than writing them (time consuming)
    I'm the same with the 1st question, they're usually so simple but I overcomplicate it. Percentage change is easy but it usually comes up for econ 4 instead :/
 
 
 
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