Economics (AS & A Level) · Oct / Nov 2022 · Paper 31 · Question 7
9708Different market structures
The list provides characteristics of the market in which firm X operates. ● Firms in the market spend a lot of money on advertising. ● Firms in the market experience a high level of uncertainty. ● Start-up costs for new firms entering the market are relatively high. ● The largest five firms in the market control 85% of total sales. In which market structure is firm X operating?
- Amonopoly
- Bmonopolistic competition
- Coligopoly
- Dperfect competition
As printed in the paper
Show the answer
Correct answer: C. oligopoly
Make a free account to save your answers and see your weak topics and ask the AI why a wrong answer is wrong.