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Mark scheme Q2 unit 2.11

In this paper 1 type question, part A focuses on oligopolies and how firms in that market structure, burdened with sticky prices must instead use non price methods of competition. Part B requires students to evaluate the level of productive and allocative efficiency within monopoly and perfectly competitive markets.2. (a) Explain why many oligopolies find it difficult to change their prices? [10 marks]

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