JAMB Economics 2023 Objective — Question 4

Question 4 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2023 Objective paper, with the correct answer and a full explanation.

Cartel is a/an

A. (A) OligopolisticCorrect
B. (B) Monopolistic
C. (C) duopolistic
D. (D) none of the above

Explanation

A cartel is a coming together of producers of a particular product to regulate output and prices, a feature of oligopolistic markets.

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