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The demand curve faced by a monopolist is_____?

Economics
JAMB 2016

The demand curve faced by a monopolist is_____?

  • A. Positively sloped
  • B. Vertical
  • C. downward sloping
  • D. Negatively Sloped
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Correct Answer: Option C
Explanation

TheDemand Curve for a Monopolistic Market is of the same form as a regular Demand Curve. It is downward sloping because of the Substitution Effect, the Income Effect, and the Law of Declining Marginal Utility.

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