Question

Monopolists ? a) face downward sloping demand curve
b)are price takers
c)have no short run fixed costs
d) maximise revenue not profits​

Answer 1

Answer:

The monopolist faces the downward‐sloping market demand curve, so the price that the monopolist can get for each additional unit of output must fall as the monopolist increases its output. ... Suppose the monopolist decides to supply 1 more unit. It therefore increases its supply to N + 1 units of output.