For a monopolist, changes in demand will lead to changes in:

a) both price and quantity.

b) price with no change in output.

c) output with no change in price.

d) any of the above can be true.

a) both price and quantity.

For a monopoly firm, if demand changes, it affects both the price and the output. A monopoly firm faces a downward-sloping demand curve since it has a specific level of market power and it can impact the price by changing the quantity produced. This can happen in light of the fact that a monopolist is the single dealer here and has complete control over market supply.