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Economics · May / June 2024 · Paper 12 · Question 16

2281Types of markets

What are the features of a highly competitive market when compared with a monopoly market?

  1. Aprice higher, profit higher
  2. Bprice higher, profit lower
  3. Cprice lower, profit higher
  4. Dprice lower, profit lower

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Correct answer: D. price lower, profit lower

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