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Economics (AS & A Level) · Oct / Nov 2022 · Paper 32 · Question 12

9708Different market structures

Which phrase best describes the market structure illustrated by the diagram if the firm produces at output Q1?

  1. Aa monopolistic firm in short-run equilibrium
  2. Ba monopoly making supernormal profits
  3. Can oligopoly engaged in a price war
  4. Da non-profit maximising state monopoly

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Correct answer: D. a non-profit maximising state monopoly

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