If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be
A.
a monopolistic competitor as it can have a limited influence on price
B.
a monopolist as it can have a great influence on price
C.
a perfect competitor as it cannot influence the market price
D.
an oligopolist as it can collude with other firms to have some influence on price
Correct Answer: Option B
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