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Paper 2Structured Questions3 marks
Monopoly markets can have both positive and negative impacts on the economy.
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Impacts of Monopoly Markets
Monopolies can lead to higher prices for consumers but may also allow for significant investment in innovation due to high profits.
- a[2]
Explain two drawbacks of monopoly markets.
Aim for approximately 2 distinct marking points.
- b[1]
Discuss the benefits of monopolies in terms of economies of scale.
Aim for approximately 1 distinct marking point.
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