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JAMB Economics 1983 Question 45

Question 45

Market Structures

NEPA as a public corporation is

  1. A.a power-generating industry in Nigeria
  2. B.organized in a perfectly competitive market
  3. C.a duopoly
  4. D.a monopolistically competitive industry
  5. E.a monopoly.
Show the answer and explanation

Answer: E (a monopoly.)

Explanation

NEPA was the only supplier of public electricity in Nigeria, which made it a monopoly.