Economics (AS & A Level) · May / June 2026 · Paper 34 · Question 1
9708Different market structures
The table shows some of the characteristics of a market. | characteristic | description | |---|---| | number of buyers and sellers | many | | type of product | differentiated | | barriers to entry | few | | short-run equilibrium | supernormal profits or losses | | long-run equilibrium | normal profits | Which market structure is this?
- Aoligopoly
- Bmonopolistic competition
- Cmonopoly
- Dperfect competition
As printed in the paper
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Correct answer: B. monopolistic competition
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