JAMB Economics 2018 Objective — Question 18

Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2018 Objective paper, with the correct answer and a full explanation.

In an imperfect market, the monopolist can influence

A. Price and quality
B. Price only
C. Quantity only
D. B and CCorrect

Explanation

A monopolist, having no competitors, has the market power to influence either price or quantity supplied, though not both simultaneously.

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 2018 Objective More Economics past papers