Describe a monopoly's demand curve. A monopoly's demand curve A. is belowbelow the demand curve for the product. B. is the same as its marginal revenue curve. C. is horizontalhorizontal and equal to the market price. D. is perfectly inelasticperfectly inelastic at the profit-maximizing quantity. E. is the same as the demand curve for the product.

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20 December, 18:08

Describe a monopoly's demand curve. A monopoly's demand curve A. is belowbelow the demand curve for the product. B. is the same as its marginal revenue curve. C. is horizontalhorizontal and equal to the market price. D. is perfectly inelasticperfectly inelastic at the profit-maximizing quantity. E. is the same as the demand curve for the product.

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Nathaly Pitts · Answer 1

Answer: is the same as the demand curve for the product. (E)

Explanation:

A monopoly is a firm that is the only seller in the market of a particular good or service. A monopolist is a price maker and can charge any price for its good or service.

As a result of the monopolist being the only firm in the market, the demand curve of the monopolist is the same as the market demand curve. The monopolist can choose to either decrease price and raise demand or increase the price and reduce demand.