The Demand Curve of a Monopolist Is

question 258

Multiple Choice

The demand curve of a monopolist is

• A) identical to the marginal cost curve.
• B) downward sloping and above the marginal revenue curve.
• C) downward sloping and below the marginal revenue.
• D) elastic because of a recognized interdependence with other firms.

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Definitions:

Habit

A regular practice or routine that is performed automatically without conscious thought.

Drive

An internal motivating force that compels action towards fulfilling a need or achieving a goal.

Incentive

Something that motivates or encourages someone to do something, often used in contexts of motivation and behavioral economics.

Need

A requirement for something because it is essential or very important, often referring to something necessary for psychological or physical survival.