Imperfect Market - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 2004

By advertising, a monopolistic competitive firm tries to shift its

A. Supply curve to the right
B. Demand curve to the right
C. Supply curve to the left
D. Demand curve to the left

Question 42:

• JAMB 2004

The diagram above represents the short-run position of a monopolist. The profit-maximizing output is

A. Q₃
B. Q₄
C. Q₁
D. Q₂

Question 43:

• JAMB 2005

In the long run, the equilibrium point of a monoplistic firm is a point where the

A. Marginal cost curve is tangential to the average fixed cost curve
B. Demand curve is tangential to the average variable cost curve
C. Supply cuvre is tangential to the marginal cost curve
D. Demand curv is tangential to the average cost curve

Question 44:

• JAMB 2005

A profit maximizing monopolist should produce within the range where his demand is

A. Inelastic
B. Elastic
C. Infinitely elastic
D. Unitary elastic

Question 45:

• JAMB 2006

The market structure in which there is interdependence of price-output policies is

A. A pure monopoly
B. An oligopoly
C. A pure competition
D. A monopolistic competition