A monopolist faces a downward-sloping demand curve because:
a. the demand for its product is inelastic.
b. the industry demand curve is horizontal.
c. resource prices increase as the monopolist expands output.
d. the entire market demand curve is the monopolist's demand curve.
d
Economics
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A demand curve that is perfectly horizontal is
A. perfectly elastic. B. perfectly inelastic. C. relatively elastic. D. relatively inelastic.
Economics