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What is the demand curve for a monopoly?
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What is the demand curve for a monopoly?
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. Consequently, the monopolist's marginal revenue will also be falling as the monopolist increases its output.
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What is the demand curve for a monopoly?
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What is the demand curve for a monopoly?
A monopolist makes a unique product. The point to be noted is he makes a unique product, when we say a unique product it doesn't mean that, this product is very important. It's just like all other products, however it doesn't have a close substitute.
Hence, if the monopolist charges high price for his unique product, it's up to the consumers whether they want to buy it or not. Ideally as per law of demand and tendancy of consumers they will not buy more. On the contrary, if the monopolist charges low price, consumers will buy more. Its clear that the demand curve for monopolist is similar to a normal demand curve i.e. downward sloping from left to right. It's also called as a negative slope.
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What is the demand curve for a monopoly? for Economics 2024 is part of Economics preparation. The Question and answers have been prepared according to the Economics exam syllabus. Information about What is the demand curve for a monopoly? covers all topics & solutions for Economics 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the demand curve for a monopoly?.
What is the demand curve for a monopoly? for Economics 2024 is part of Economics preparation. The Question and answers have been prepared according to the Economics exam syllabus. Information about What is the demand curve for a monopoly? covers all topics & solutions for Economics 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the demand curve for a monopoly?.
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