Post Utme Lead City University 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ECONOMICS • objective

A monopoly is a market structure in which a \single firm supplies the entire market with a particular good or service. Which of the following is a characteristic of a monopoly?

Answer Options

A. A large number of firms produce a homogeneous product
Correct Answer B. A \single firm produces the entire output of the market
C. A small number of firms produce a differentiated product
D. A \single firm sets the price of the product
Correct Answer
B
Correct Option:
A \single firm produces the entire output of the market

About This Question

This is Post Utme Lead City University 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Lead City University Economics examination.

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