The Demand Curve Facing a Single-Price Monopolist Slopes Downward Because

question 100

Multiple Choice

The demand curve facing a single-price monopolist slopes downward because

• A)its average revenue equals its marginal revenue.
• B)its demand curve is the market demand curve,which is generally downward sloping.
• C)demand is perfectly inelastic.
• D)it sells typically to only one consumer.
• E)its supply curve is upward sloping.

---

Definitions:

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, involving an increase in production, technological innovation, and infrastructure.

Tariffs

Taxes imposed by a government on imported or exported goods.

Foreign Products

Goods or services that are produced in one country and sold to consumers in other countries.

Gross Domestic Product

The total value of all goods and services produced within a country in a specific time period, used as a broad measure of economic activity and health.