Post Utme Greenfield University 2021 Commerce Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2021 Commerce Objective / Multiple Choice
Question 36 POST_UTME_GREENFIELD_UNIVERSITY • 2021 • COMMERCE • objective

In a perfectly competitive market, the law of supply states that the quantity of a good supplied is inversely related to its price. However, the law of supply is not applicable in a market with a single seller, as the seller can influence the market price. What is the name of this market structure?

Answer Options

Correct Answer A. Monopoly
B. Monopsony
C. Oligopoly
D. Perfect Competition
Correct Answer
A
Correct Option:
Monopoly

About This Question

This is Post Utme Greenfield University 2021 Commerce Question 36. It is one of the objective questions from the 2021 Post Utme Greenfield University Commerce examination.

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