JAMB Economics 2008 Objective — Question 25

Question 25 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2008 Objective paper, with the correct answer and a full explanation.

Which of the following producers is closest to being a monopolist?

A. a baker
B. a wheat farmer
C. a large chain store
D. an automobile plantCorrect

Explanation

An automobile plant is closest to being a monopolist, having significant market power/uniqueness compared to a baker, wheat farmer, or chain store.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2008 Objective More Economics past papers