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The demand curve facing the monopolist in the foreign market is__________

Economics
JAMB 2019

The demand curve facing the monopolist in the foreign market is__________

  • A. Elastic
  • B. Inelastic
  • C. Perfectly elastic
  • D. Unitary
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Correct Answer: Option C
Explanation

The foreign market is perfectly competitive while the home market is monopolistic. Since foreign market is a perfect competitor then the monopolist is faced with average revenue or horizontal demand curve or price line.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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