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Economics · May / June 2024 · Paper 11 · Question 16

2281Types of markets

What is likely to happen if a previously competitive market becomes a monopoly?

  1. Abarriers to entry: decrease; economies of scale: decrease; the size of the firm: increases
  2. Bbarriers to entry: decrease; economies of scale: increase; the size of the firm: decreases
  3. Cbarriers to entry: increase; economies of scale: decrease; the size of the firm: decreases
  4. Dbarriers to entry: increase; economies of scale: increase; the size of the firm: increases

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Correct answer: D. barriers to entry: increase; economies of scale: increase; the size of the firm: increases

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