JAMB Economics 2008 Objective — Question 46
Question 46 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2008 Objective paper, with the correct answer and a full explanation.
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The OPEC marketing policy of fixing minimum price allows members to
- A. sell above minimum priceCorrect
- B. sell below minimum price
- C. determine the price and quantity to sell
- D. negotiate price with customer
Explanation
Minimum price means that sellers can sell above the set price but selling below is not legally or officially permitted.
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