2.11
Market Power HL
Perfect competition, monopoly, oligopoly, and monopolistic competition.
You should be able to
- Describe the characteristics of different market structures
- Explain profit maximisation using the MC = MR rule
- Compare outcomes across market structures in terms of price, quantity, and efficiency
- Evaluate the implications of market power for consumers and society
Materials to come
Notes on market structures (perfect competition, monopoly, oligopoly, monopolistic competition) and profit maximisation will be added here.
Materials to come
Practice questions for this topic will be added here.