What is the main difference between the demand curves for the perfect competitor and the monopolist?
What will be an ideal response?
The perfect competitor faces a horizontal demand curve because it has no control over the market price. By contrast, the monopolist is the sole supplier of the entire industry so that it faces the industry demand curve, which is downward sloping.
Economics
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Refer to the table above. The gross domestic product of the country is ________
A) $402,000 B) $452,000 C) $554,000 D) $352,000
Economics
In monopolistic competition, an increase in a firm's advertising
A) has no effect on its average cost curves. B) has no effect on demand. C) increases the firm's average total cost. D) increases the firm's marginal cost.
Economics