Question

Why the demand curve under monopoly is negatively sloped?

Answer 1

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Monopoly is a market form which is characterized by a single seller selling such a product which has no close substitute. Since the product has no close substitute the demand curve in monopoly is relatively inelastic which means a change in price (fall/rise) bring less than proportionate change(rise/fall) in quantity demanded as a result to sell more the monopolist has to decrease the price.