A monopolist has the power to influence the prices of goods and services. Therefore, he…

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Economics JAMB 2015

A monopolist has the power to influence the prices of goods and services. Therefore, he is a

  • price maker checkmark
  • price taker
  • price system
  • price competition

The correct answer is: A

Explanation

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.
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