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Define what market failure is and identify an example of market failure, explaining fully why it is a relevant example.

Market failure is defined as a misallocation of resources, and essentially entails that market forces are not operating effectively through the price mechanism to distribute goods and services from suppliers...
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Answered by Edward E. • Economics tutor
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[Edexcel Economics A 2015] With reference to the information provided, examine two pricing strategies an oligopolist like Sony may use to maximise profits (8).

As an oligopoly is when a group of firms have the majority of the market share, they gain price-setting power. One policy they can use is limit-pricing. In lowering the price of their goods, oligopolies are ...
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Answered by Conrad K. • Economics tutor
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Find X log(x)=4 Base 10

Log base 10log(x)=4 ~ 10 4 =xx=10000
Answered by • Maths tutor
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How do I write a successful essay?

This is a big question with lots of important parts. Put simply though, writing an essay is all about argument and answering your question . You must make sure a very clear argument runs throughout every sen...
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Answered by Luca O. • History tutor
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What is a strength of the Multi Store Model of Memory?

Well the main thing to remember when evaluating the MSM is that it is a useful basis but a vast over simplification. Whilst there is plenty of evidence for separate memory stores for long and short term memo...
Answered by • Psychology tutor
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