JAMB Economics 2012 Objective — Question 25
Question 25 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.
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Patents and copyrights enable monopolists to
- A. determine the quality of their products
- B. determine the sale of their products
- C. restrict information flow to new firms
- D. restrict entry of new firmsCorrect
Explanation
The major characteristic of monopoly market is barrier to entrance. When there are patents and copyrights given to firm, it is to prevent other firms from joining the market.
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