Demonstrate understanding of the efficiency of different market structures using marginal analysis

What this standard covers

• Marginal analysis: profit maximising where MR = MC
• Perfect competition in the short run and the long run
• Monopoly pricing, output and allocative inefficiency
• Natural monopoly and its three pricing options
• Government policy to improve the efficiency of a monopoly market

Past exam papers

The three most recent years. Every link opens on the NZQA website.