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WAEC Economics 1994 Question 3

Question 3

Business Organisations

Which of the following is true of NEPA as a public corporation in Nigeria? It is

  1. A.a solar energy distributor
  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 electricity in Nigeria, so it was a monopoly.