1 mark
Q1 Deduce what happens in the long run to a Costa Rican pineapple grower earning above-normal profit in a perfectly competitive market.
Edexcel · 9EC0 / 8EC0 / WEC11–14
Perfect competition comes up in 7 questions across the Edexcel A Level, AS and International A Level past papers (9EC0 / 8EC0 / WEC11–14), worth 10 marks between them. They run from 2020 to 2024 and appear on A Level Paper 1, International A Level Unit 3.
Tariffs run from 1 to 4 marks. The commonest instructions are Identify (MCQ) (6), Draw/Diagram (1). Specification points covered: 3.3.3.3, 3.4.2.
Q1 Deduce what happens in the long run to a Costa Rican pineapple grower earning above-normal profit in a perfectly competitive market.
Q4 Deduce the long-run outcome for an Indian wheat farmer from a short-run cost and revenue diagram.
Q3 Deduce the long-run outcome for a farm business earning short-run supernormal profit under perfect competition.
Q4 Deduce short-run profit and the long-run change in firm numbers from a diagram of a perfectly competitive firm.
Q6 For a small Namibian fruit farm in perfect competition in long-run equilibrium, identify the correct combination of allocative efficiency and profit.
Q5(a) Draw diagrams showing the long-run equilibrium positions for both the market and a typical firm (context: many Sicilian households selling identical lemons at the same price).
Q2 Using a cost and revenue diagram for a profit-maximising firm in perfect competition, identify what is true at each of four prices about shut-down points and supernormal profit.
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