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    Is this valid for qu 4:

    When trying to correct monopsony market failure, government may implement NMW too high and therefore cause less employment
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    It was a weird paper. Monopoly, calculation, economic rent and barriers to entry were easy. Rest were hard, market failure seriously?!
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    F584 guys got an easy paper FFS
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    (Original post by flairs)
    Is this valid for qu 4:

    When trying to correct monopsony market failure, government may implement NMW too high and therefore cause less employment
    didnt it want it in terms of the extract..?
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    (Original post by WillRose)
    Attachment 555613
    that then just analysed, the 15 marker was the worst bit of the paper imo
    it was the WORST! not enough to write for a 15 marker at all or was it just me who ran out after a page?
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    (Original post by SilverHorsey)
    it was the WORST! not enough to write for a 15 marker at all or was it just me who ran out after a page?
    yeah about one and a half sheets of a4

    wrote more for the 10 marker
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    (Original post by WillRose)
    yeah about one and a half sheets of a4

    wrote more for the 10 marker
    which ten marker?!?!!1 **** i think i mightve missed a question
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    (Original post by SilverHorsey)
    abuse of monopoly power, sky and bt being the 2 dominant firms and not allowing other new firms to enter the market, you?

    yes i did
    A monopoly is 100% market share, these were two firms in the market and so is an oligopoly/duopoly
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    (Original post by WillRose)
    didnt it want it in terms of the extract..?
    No, where did it say that?
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    (Original post by Lenners)
    What Essays did you do? I did Q4 myself: Analyse the effect of labour market failure on labour markets, and comment on how government intervention doesn't always correct labour market failure.

    I was praying for this. Such a broad and open question.
    I did the same, what were your points for the 15 marker, what examples did you use?
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    (Original post by Piers456)
    A monopoly is 100% market share, these were two firms in the market and so is an oligopoly/duopoly
    it depends what definition of monopoly youre using, and as the question didnt state it being a pure monopoly you can just as well write for an ao2 point even that in the context of legal/dominant monopolies (25% and 40% of MS respectively) etc etc.
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    (Original post by Piers456)
    No, where did it say that?
    im thinking of somethin else sry
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    I thought Monopoly is 25% of the market share..
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    (Original post by Pato1)
    I thought Monopoly is 25% of the market share..
    it is dw, the main definition i.e. the legal monopoly definition is 25 or over so youre okay
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    (Original post by SilverHorsey)
    it depends what definition of monopoly youre using, and as the question didnt state it being a pure monopoly you can just as well write for an ao2 point even that in the context of legal/dominant monopolies (25% and 40% of MS respectively) etc etc.
    I see where you're coming from but if it's a comment question surely it wants you to argue that it is a monopoly then argue that it isn't a monopoly maybe?
    Idk tbh, what did you right to counter the statement/evaluate?
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    Isn't the sports broadcasting industry more of a Oligopoly? BT Sport/ESPN/Sky Sports/BBC Sports/ITV Sports the big boys
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    (Original post by Piers456)
    I see where you're coming from but if it's a comment question surely it wants you to argue that it is a monopoly then argue that it isn't a monopoly maybe?
    Idk tbh, what did you right to counter the statement/evaluate?
    yeah, counterarguments were

    1) oligopolistic characteristics with BBC/ITV/Virgin and Setanta in previous years broadcasting sports

    2) not a single supplier of the product

    3) not impossible to enter the market so therefore not a monopoly as the high barriers to entry/exit are still penetrable

    not great but i didnt revise for any of my exams apart from 3 hours before each one so had to fluff some stuff, you?
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    (Original post by SilverHorsey)
    yeah, counterarguments were

    1) oligopolistic characteristics with BBC/ITV/Virgin and Setanta in previous years broadcasting sports

    2) not a single supplier of the product

    3) not impossible to enter the market so therefore not a monopoly as the high barriers to entry/exit are still penetrable

    not great but i didnt revise for any of my exams apart from 3 hours before each one so had to fluff some stuff, you?
    Practically what i wrote 👍👍
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    (Original post by Pato1)
    Isn't the sports broadcasting industry more of a Oligopoly? BT Sport/ESPN/Sky Sports/BBC Sports/ITV Sports the big boys
    yeah pretty much, is that what you wrote/
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    (Original post by Piers456)
    Practically what i wrote 👍👍
    maybe it isnt all dire for me, having said that the 15 marker on MC and MR was theworst Q ive ever answered
 
 
 

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