Economics

revision
Q1)Explain why perfect competition rarely happens in practice
what is the most commonly occurring market type, and what are
the key features of these markets?
Perfect competition you cannot tell apart also you need 4 things for
perfect competition , free entry ,similar products , many buyers
and sellers, price takers......
Why are we worried about oligopoly .....
The most common are Monopoly Oligopoly .... And and
monopolistic which is the most common out of the three
..............

Q2) What are the principle differences between theorising of

Baumol Marries and Williamson, why were these alternative
theories developed ...................

Q3) Explain why rail companies have full price and off peak
ticket prices................... What condition must be met for
this form of price discrimination to exist....

First degree when you charge different prices second

degree buying in bulk discount 3 degree we can charge
different prices.................
They must face different demand curves, they must be
able to be separated between the consumers......

Q4) Describe and briefly explain the 4 key aspects of EU

competition policy ............

Dominant market position

Cartels
Mergers
State aid

Q5) Structure conduct Performance......