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IB Economics HL 2.11.7 Hl Advantages and Risks of Market Power Questions

Practise IB Economics HL 2.11.7 by analysing economies of scale, innovation, welfare, efficiency, prices, output and consumer choice in markets with significant power.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Explain economies of scale and how expansion can reduce long-run average costs.
  • Analyse how market power can generate economies, innovation and abnormal-profit benefits.
  • Evaluate consumer welfare, efficiency, prices and output when market power is compared with competition.
  • Balance benefits and risks of significant market power using market-structure evidence and real cases.

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