The Demand Curve Facing a Single- Price Monopolist Slopes Downward

question 89

Multiple Choice

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

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

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Definitions:

Repression

A defense mechanism where distressing thoughts and feelings are unconsciously excluded from conscious awareness.

Interference

A phenomenon where stored information is difficult to retrieve due to the presence of other similar information or distractions.

Misinformation Effect

A phenomenon where a person's recall of an event becomes less accurate because of post-event information.

Source Amnesia

A type of amnesia in which someone can remember certain information but not the context or source from where that information was acquired.