Discriminatory monopoly - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 1982

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

A. Elastic in both markets
B. Uniltary elastic in both market
C. Inelastic in both markets
D. Elastic in one market and inelastic in the other
E. Unitary elastic in none of the markets

Question 3:

• JAMB 1984

For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is

A. Equal to marginal cost
B. Greater than marginal cost
C. Greater than average total cost
D. Equal to marginal revenue
E. Equal to toal revenue

Question 4:

• JAMB 1986

A monopolist will practice price discrimination in two markets if?

A. The cost of separating the markets is large
B. The markets have different elasticities of demand
C. There is free flow of information in the two markets
D. There is a patent of the commodity

Question 5:

• 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