question archive Which of the following accurately depicts the demand curve for a firm in a monopolistic market? a
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Which of the following accurately depicts the demand curve for a firm in a monopolistic market?
a. It is a horizontal line.
b. The market demand curve is horizontal.
c. It is less than the market demand curve.
d. It is the market demand curve.
Which of the following accurately depicts the demand curve for a firm in a monopolistic market? d. It is the market demand curve.
A monopoly is a business selling a product or service for which there are no close substitutes. That means that the monopolist faces a downward-sloping demand curve because it is the same as the total market demand. A monopolist still can't sell as much as he wants and charge whatever price he wants, because the consumers still have their say by means of their demand at given prices.