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    (Original post by SANTR)
    I can't remeber exactly but was the question something along the lines of 'Why is the housing market not a competitve market'?
    Why is the housing market not an example of perfect competition.
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    Does anyone remember what they put for the multiple choice questions?


    Posted from TSR Mobile
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    because there are certain conditions for a market to be in perfect competition, like an infinite number of suppliers and consumers, no barriers to entry etc... those conditions do no exist in housing
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    (Original post by Desert_fox15)
    Why is the housing market not an example of perfect competition.
    Wouldn't you then discuss features the housing market doesn't possess e.g. perfect information but rather asymetrical knoledge between buyers and sellers, I think it mentioned that a few frims have a 'large percentage..', so there are monopolists etc
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    What did people get for the Context 2 calculation. £6.29?
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    B.
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    (Original post by Reaver Daniels)
    On the new spec, what did you guys put for the multiple choice question showing an average cost curve where the firm was producing at X (at the lowest point on the curve) and it was asking how average costs would decrease?

    I think the options were like

    A: a shift upward of the average cost curve
    B: a shift downward of the average cost curve
    C: a movement along the average cost curve to the right
    D: a movement along the average cost curve to the left

    I think those were the options? I put A.


    Posted from TSR Mobile
    I said B for that one, wasn't 100% sure tbh.
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    (Original post by AKRYL)
    Wouldn't you then discuss features the housing market doesn't possess e.g. perfect information but rather asymetrical knoledge between buyers and sellers, I think it mentioned that a few frims have a 'large percentage..', so there are monopolists etc
    Yh I talked mainly about imperfect information and firms being price givers, when they should be price takers when in perfect competition.
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    Anyone do context 2,from the old spec? What did you write for the 12 marker????
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    (Original post by Desert_fox15)
    Yh I talked mainly about imperfect information and firms being price givers, when they should be price takers when in perfect competition.
    Regarding the data comparison Q, what points did you make?
    Also, the figures were in thousands right?
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    what did people put for the multiple choice questions? I thought they were pretty hard compared to the past papers. I did context 2 on smoking and thought that was okay- it was just about demerit goods, indirect taxes and smoking.
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    (Original post by Reaver Daniels)
    On the new spec, what did you guys put for the multiple choice question showing an average cost curve where the firm was producing at X (at the lowest point on the curve) and it was asking how average costs would decrease?

    I think the options were like

    A: a shift upward of the average cost curve
    B: a shift downward of the average cost curve
    C: a movement along the average cost curve to the right
    D: a movement along the average cost curve to the left

    I think those were the options? I put A.


    Posted from TSR Mobile
    I put B but im pretty sure im wrong. Because it said at any point, wouldnt it just be the minimum point?
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    (Original post by Reaver Daniels)
    You guys know that for the new spec (not sure about the old spec) you are capped at level 4 if you don't have a conclusion, right?


    Posted from TSR Mobile
    Yep and you have to refer to the extract explicity. What conclusion did you draw?
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    (Original post by SANTR)
    Regarding the data comparison Q, what points did you make?
    Also, the figures were in thousands right?
    Yes in thousands, I usually get 4/4 by simply doing an overall and peak, so for overall I state that quantity A was at this much in ... and increased/decreased to .... in ..., on the other hand quantity B was at.... and so forth for my overall and then just compare the peaks.
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    (Original post by Reaver Daniels)
    You guys know that for the new spec (not sure about the old spec) you are capped at level 4 if you don't have a conclusion, right?


    Posted from TSR Mobile
    oh no. How many marks is level 4? I just put something like overall I think there should be regulation because...

    Is that a conclusion or no?
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    (Original post by Desert_fox15)
    Yes in thousands, I usually get 4/4 by simply doing an overall and peak, so for overall I state that quantity A was at this much in ... and increased/decreased to .... in ..., on the other hand quantity B was at.... and so forth for my overall and then just compare the peaks.
    I felt you had to go for the 'overall change' point because there were two identical troughs, each associated with a separate year.
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    What did people get for the MPC, which had one of the options with '
    QRST, QRST minus something..', RSTY etc?
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    (Original post by SANTR)
    What did people get for the MPC, which had one of the options with '
    QRST, QRST minus something..', RSTY etc?
    i put the first one but have no idea if that was right...
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    (Original post by Reaver Daniels)
    What did people get on the new spec multiple choice for the like size of the monopoly or something?

    I put A which was like RSTY or something?


    Posted from TSR Mobile
    Was that the coordinates for the 'larger triangle'?
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    (Original post by Beccatenney)
    i put the first one but have no idea if that was right...
    Was that the coordinates for the "larger triangle" of the "two"?
 
 
 
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