Market Structures - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 1989

Given perfect competition in the capital market, the opportunity cost of capital is adequately reflected by the?

A. Interest rate
B. Returns on capital
C. Alternative capital foregone
D. Shadow price of foreign exchange

Question 52:

• JAMB 1989

In order to increase its profit margin, the monopolist can manipulate

A. Both price and output
B. Either price or output
C. Only its price
D. Only its output

Question 53:

• JAMB 1989

For purely competitive industry, a fundamental requirement of the demand curve faced by individual firms is that it should be?

A. Downward sloping and price inelastic
B. Perfectly price elastic
C. Downward sloping but price inelastic
D. Perfectly price inelastic

Question 54:

• JAMB 1990

An imperfect market in which there is only one buyer of a commodity is?

A. Monopsony
B. Oligopoly
C. Monoploy
D. Duopoly

Question 55:

• JAMB 1990

The tailoring services is competitive partly because it consists of a large number of?

A. Large-scale enterprises
B. Medium scale enterprises
C. Small scale enterprises
D. Government-owned enterprises