Economics
JAMB 2019
The demand curve facing the monopolist in the foreign market is__________
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A.
Elastic
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B.
Inelastic
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C.
Perfectly elastic
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D.
Unitary
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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