Post Utme Caleb University 2024 Commerce Question 23

Practice objective / multiple choice question 23 from the 2024 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2024 Commerce Objective / Multiple Choice
Question 23 POST_UTME_CALEB_UNIVERSITY • 2024 • COMMERCE • objective

A firm is considering the introduction of a new product. The product has a high fixed cost, but a low variable cost. What type of market structure is this firm operating in?

Answer Options

A. Perfect competition
Correct Answer B. Monopoly
C. Monopolistic competition
D. Oligopoly
Correct Answer
B
Correct Option:
Monopoly

About This Question

This is Post Utme Caleb University 2024 Commerce Question 23. It is one of the objective questions from the 2024 Post Utme Caleb University Commerce examination.

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