Economics · May / June 2019 · Paper 22 · Question 2
2281
As printed in the paper
The question as text
The markets for cars and tyres are closely related. The five largest tyre firms used to make 66% of all tyres. The entry of more than 250 Chinese firms has reduced the global market share of the largest five firms to less than 50%. This also changed the price elasticity of demand (PED) for individual firms’ tyres. Some of these firms are state-owned enterprises and some are in the private sector.
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2(a)[2]
2(b)[4]
2(c)[6]
2(d)[8]
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