Economics 9708 · AS & A Level · 7.6

7.6 — practice question

(a)[12]

Explain how price leadership differs from price discrimination.

(b)[13]

Discuss whether firms always aim to maximise profits and whether they are able to do so in the manner predicted by economic theory.

Worked solution & mark scheme

This 25-mark question has a full step-by-step worked solution and mark scheme.