The demand curve confronting a nondiscriminating pure monopolist is:

A. more elastic than the demand curve confronting a competitive firm.
B. derived by vertically summing the individual demand curves competitors.
C. the same as the industry's demand curve.
D. horizontal.


Answer: C

Economics

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A monopoly firm can make economic profit in the long run. A firm in monopolistic competition cannot. What creates this difference?

What will be an ideal response?

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Figure 7-10   In Figure 7-10, the curve labeled C is

A. average fixed cost. B. average total cost. C. average variable cost. D. marginal cost.

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In market capitalism:

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