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L3-9

E1-1

Well balanced answer from both side with

the support of economic analysis through using

of graphs. However, evaluative statement

only provide 1 sided evaluation without

further justification.

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no evaluation, but still a good work.

a well balanced view and good elaboration.

L2 1/2 +E 0

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good but no evaluation and lack of economic analysis

L2 E1-0

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overall very good but lack of clear evaluation.

L3 :) E1 - 0

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Very good 👍 but,

-Never assume first degree price discriminating

-Little mention of PCM

L2 + E1 :)

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L1: No relevance in terms of economic analysis. Underdeveloped answer. Imbalanced argument.

L2: Little relevance in terms of economic analysis. Limited scope. Imbalanced answer or balanced answer with limited elaboration

L3: Two sided developed argument that shows strong economic analysis, means strong and explicit comparison based on economic criterion of efficiency, equity and output + price.

E1: Evaluation without justification

E2: Evaluation with justification

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Provide an overall evaluative judgement on the likeliness that a price discriminating is preferred over a firm in a perfectly competitive industry.

You need to identify variables that could influence the judgement outcome.

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Argument for why a price discriminating monopolist may not be necessarily preferred over a firm in a perfectly competitive market.

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Argument for why a price discriminating monopolist would be preferred over a firm in a perfectly competitive market

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1. Define Price Discrimination

2. Define Monopolist and Perfectly Competitive Firm Briefly

3. Establish and explain the criterion for comparison briefly: The Criterion is made on the basis of (a) Efficiency, (b) Equity, (c) Innovation and (d) Output + Price

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Discuss - Analysis + Evaluation is required.

Price Discriminating Monopolist + Perfectly Competitive Market - The identified market structure(s) for discussion

Preferred - Suggest the need for COMPARISON. As such, criterion for comparison need to be established.

13 marks: 9 marks for analysis + 4 marks for evaluation

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b) Discuss if a price discriminating monopolist would be preferred over a firm in a perfectly competitive market. [13 marks]