Question

The demand for a goods produced by a monopolist is

Answer 1

Answer:

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Answer 2

The demand produced is elastic.

• The monopolist encounters the consumer demand curve for the commodity manufactured because it is a sole seller.

• The considerable degree to which a firm's commodity is distinguished from competing firms' products determines its price regulation.

• If a firm's product isn't distinguishable from others, the demand curve can be relatively elastic, and the business will gain less leverage over the price it can charge.