The demand curve for a monopoly is
A) horizontal because the demand is perfectly elastic.
B) downward sloping.
C) vertical because the demand is perfectly inelastic.
D) upward sloping.
E) undefined because it is the only supplier in the market.
B
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In the long run, monopolistically competitive firms can make an economic profit because of product differentiation
Indicate whether the statement is true or false
If C = $250, I = $50, G = $60, NX = -$20, and NFP = $5, how much is GNP?
A) $365 B) $335 C) $340 D) $345
Which of the following institutions is responsible for check processing?
a. U.S. Department of the Treasury b. Comptroller of the Currency c. Federal Reserve d. Federal Deposit Insurance Corporation
Since restored historic buildings convey a positive externality, local governments may choose to
a. regulate the demolition of them. b. provide tax breaks to owners who restore them. c. increase property taxes in historic areas. d. Both a and b are correct.