A monopolist has the power to influence the prices of goo...
A monopolist has the power to influence the prices of goods and services. Therefore, he is a
Price maker
Price taker
Price system
Price competition
Correct answer is A
Monopoly is a situation where there is a single producer and seller of a commodity for which there is no close substitute. This gives a monopolist the power to make/decide the price for a particular commodity.
Which of the following is an objective of economic integration? ...
The law of demand states that ...
A list of consumer's wants arranged in order of priorities is known as ...
A tax that takes an increasing fraction of income as income goes down is called ...
Which of the following can be used to measure the Gross National product in an open economy? ...
Inflation n the Nigeria economy may be fueled by increase in ...
Commercial bank reserves at the Central Bank have the effect of ...
A society that operates below the production possibility curve is using its productive resources ...
When a pen and a book is demanded together, the demand is said to be ...
Exclusions that makes Gross National Product a poor measure of welfare are ...