question archive The demand curve for a monopolist differs from that of a competitive firm in that a
The demand curve for a monopolist differs from that of a competitive firm in that a
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The demand curve for a monopolist differs from that of a competitive firm in that
a. the demand curve for a competitive firm lies above its marginal revenue curve.
b. the demand curve for a competitive firm is inelastic.
c. the demand curve for a monopolist is the market demand curve.
d. the demand curve for a monopolist lies below its marginal revenue curve.
e. the demand curve for a monopolist is horizontal.
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Correct Option: c. the demand curve for a monopolist is the market demand curve.
Explanation:
It is because, in the monopoly, the firm and the industry is the same. Therefore, the demand curve of the monopolist is the same as the market demand curve.
