Since a Monopolist Faces a Downward Sloping Demand Curve

question 84

Multiple Choice

Since a monopolist faces a downward sloping demand curve,

• A)​the monopolist is able to sell all that it wants at whatever price the monopolist chooses.
• B)​it is necessary for the monopolist to lower the price to sell additional units of the good.
• C)​the monopolist sells only a fraction of the total sales of the good in the market.
• D)​the monopolist must always make an economic profit.

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Definitions:

Competitive Exclusion

Process whereby two species compete for a limiting resource, and one drives the other to local extinction.

Same Niche

The scenario where two or more species occupy the same environmental niche, competing for identical resources.

Larger Species

Species characterized by larger body sizes in comparison to related species or within a defined context of study.

Survival

The ability to continue living or existing, often despite difficult conditions or situations.