Mark scheme Q2 unit 2.11
In this paper 1 type question, part A focuses on oligopolies and how firms in that market structure, burdened with sticky prices must instead use non price methods of competition. Part B requires students to evaluate the level of productive and allocative efficiency within monopoly and perfectly competitive markets. 2. (a) Explain why many oligopolies find it difficult to change their prices. [10 marks] Responses...