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IB Economics HL 2.11.4 Hl Monopoly Questions

Practise IB Economics HL 2.11.4 by analysing monopoly diagrams, pricing, welfare loss, barriers to entry, natural monopoly and efficiency with marked exam evidence.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Explain monopoly, barriers to entry and natural-monopoly conditions as sources of market power.
  • Use monopoly diagrams to determine profit-maximising output, price, profit or loss from AR, MR, MC and AC.
  • Analyse welfare loss and productive or allocative efficiency by comparing monopoly with perfect competition.
  • Evaluate how barriers affect long-run abnormal profit and how monopoly structure changes market outcomes.

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