- 20 Marks
EIB – APRIL 2023 – LEVEL I – Q5 – Marginal Cost in Retail Banks, Average Cost Minimum, Market Structure Factors, Pure Monopoly Characteristics, Profit Effects
This question explores cost structures in retail banking, the condition for minimum average cost, factors causing differences in market structures, characteristics of pure monopoly, and effects of profit in the context of Ghanaian banking.
Question
a) Name four items that feature in the marginal cost of a retail bank.
b) Under2011) that condition does average cost, AC, fall to its minimum?
c) State two factors that cause market structures to differ in general respects.
d) Mention two characteristics of pure monopoly.
e) Mention any two effects of profit.
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